FOR IMMEDIATE RELEASE
September 4, 2008
Joint Standing Committee seeks investor feedback on product suitability
TORONTO - The Joint Standing Committee on Retail Investor Issues is looking for feedback from investors on issues relating to the suitability of investment products for retail investors. A series of consultation questions, posted today at www.osc.gov.on.ca/jsc, focus specifically on what information investors say they want and need when making a decision to invest and how they think investment products should be regulated.
“It’s very important for our organizations to hear directly from retail investors on these issues,” said Lawrence Ritchie, OSC Vice Chair and Chair of the Joint Standing Committee. “This is part of our ongoing commitment to more effectively integrate the retail investor perspective into our regulatory efforts.”
The questions are preceded by a brief overview of the concept of product suitability. Investors are invited to provide their answers to any or all of the questions, either online or by mail, by October 9, 2008. This is a first step in consultation on this issue. Investors who would like to participate in further dialogue on this and future topics can provide contact information to the committee at jsc@osc.gov.on.ca.
The Joint Standing Committee on Retail Investor Issues was formed by the Investment Industry Regulatory Organization of Canada, Mutual Fund Dealers Association of Canada, Ombudsman for Banking Services and Investments, and the Ontario Securities Commission to focus on matters relating to retail investors, such as enhancing investor education, promoting greater transparency of investment products offered for sale to retail investors, and otherwise strengthening the effectiveness of retail investor protections.
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For Media Inquiries:
Connie Craddock
Vice-President, Public Affairs
Investment Industry Regulatory Organization of Canada
416-943-5870
ccraddock@iiroc.ca
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Wendy Dey
Director, Communications & Public Affairs
Ontario Securities Commission
416-593-8120
wdey@osc.gov.on.ca
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Ken Woodard
Director, Communications & Membership
Services
Mutual Fund Dealers Association
416-943-4602
kwoodard@mfda.ca
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Diane Bélanger
Manager, Public Affairs
Ombudsman for Banking Services and
Investments
416.218.4244
dbelanger@obsi.ca
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