Funding targets research on DIY investor experiences
The BC Securities Commission (BCSC) has announced that it will grant $100,000 in funding to FAIR Canada for the purpose of conducting investor-focused research about securities policy.
Brenda Leong, the chair and CEO of BCSC, said the move is part of the agency’s “investor protection mandate.
“We expect this initiative will produce strong research and data that will shed more light on investor attitudes and behaviours, which could help inform our policymaking,” she said.
As an investor-focused nonprofit, FAIR Canada has been spearheading independent research aimed at delivering actionable advice to regulators and government bodies about enhancing investor protection and market fairness.
The funding from BSCS will specifically go toward examining the experiences and challenges faced by DIY investors, according to an emailed news release.
Jean-Paul Bureaud, FAIR Canada’s executive director, said this research will be integral to “our advocacy to assist decision-makers in implementing balanced policy responses that improve investor outcomes.”
“We are grateful for the financial support provided by the BCSC, as it will strengthen FAIR Canada’s ability to better represent the concerns of retail investors,” Bureaud added.
BCSC sourced the funds for the $100,000 grant from administrative penalties it has collected through its regulatory actions. Under British Columbia’s Securities Act, the agency is permitted to allocate penalty-derived funds to third-party initiatives it deems to be “appropriate.”
In other BCSC news, the regulator recently fined a portfolio manager in Vancouver after a compliance examination revealed multiple compliance failures.
Last December, BCSC ordered M.Y. Capital to pay a financial penalty of $100,000 and hire an independent compliance monitor at its own expense. It also banned the firm’s former chief compliance officer, Marcus Ming Xu, from taking on similar roles in any investment market registrant for four years.
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