Worth reading: IndependentInvestor.info‘s Proposed Canadian Securities Act and investor protection: a failing grade. The thoughtful, detailed analysis and judgment of the proposed move by the federal government to create a national securities regulator shows how little improvement there really is likely to be for the individual investor in solving key problems: high fees for mutual funds, costly access to government of Canada securities, lack of fiduciary responsibility by the industry towards investors, inadequate civil court recourse against misbehaving financial firms, priority given to financial system protection over investor interests.
Blog author Marc Ryan concludes by quoting Minister Flaherty saying that the intent of the federal move is to enhance investor protection! Read More…
If it’s not going to be strong than i don’t understand what its main purpose is going to be. Damn it i am going to go make some calls and voice my anger. Very frustrated today.
Maybe it’s time to get out the pitch forks and storm ottawa
So now what do we do?
It took me a while and after reading through several works about this i have to agree that very little will come of it.
I was having high hopes for better reform but that was dashed.
Unless you are a big time investor or a big company making large investments then you stand little chance of getting a fair share in this.
Reads more like a hit piece than anything
Unfortunately for all of us this poor showing by canada for a real protection agency is soley because of greed. Like America the financial industry has some power in parliament and so strong reform for protections is not on the table.