TORONTO, Nov. 27, 2020 /CNW/ - The Ontario Securities Commission (OSC) today announced that it will provide $3.75 million to FAIR Canada (FAIR), a national charitable organization dedicated to advancing the interests of individual investors.
"The OSC's financial contribution will provide FAIR with stable funding over the next five years, allowing it to continue its important and valuable investor advocacy and protection work," said Grant Vingoe, Acting Chair and CEO of the OSC.
The funding is an allocation from the OSC's Designated Fund, and will be provided to FAIR in annual instalments of $750,000 over five years. FAIR will use these funds to cover its day-to-day operating expenses.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, 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 http://www.osc.gov.on.ca.
SOURCE Ontario Securities Commission