OSC provides six-year funding to FAIR Canada

TORONTO, Nov. 27, 2024 /CNW/ - The Ontario Securities Commission (OSC) is announcing it will provide funding of up to $2 million per year, to a total of $11 million, to FAIR Canada (FAIR) – a national charitable organization dedicated to advancing and promoting the interests of individual investors.  This new funding arrangement will provide a stable source of funding for FAIR for the next six years.

"FAIR provides an important and independent voice for investors, advocating for their interests on securities policy issues," said Grant Vingoe, OSC CEO.  "This contribution provides a steady and stable source of funding over the next six years to support FAIR with its important work."

The funding will be provided from sanction and settlement funds held by the Commission in two installments, the first of which will be paid to FAIR immediately, with a second installment provided in 2027. FAIR can only draw a maximum of $2 million per year under the agreement. This funding will be used to support FAIR's day-to-day operations.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.

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SOURCE Ontario Securities Commission