Panel 4. Harmed Investor, Speedy Recovery: Industry Funded Investor Compensation Funds

Document Type

Video

Publication Date

10-26-2015

Abstract

This panel discusses the role of industry funded compensation funds for wronged investors, and consider their benefits and limitations as compared to private suits and other means of recovery. The panel also considers:

  • Whether the Canadian Capital Markets Regulator (CCMR), Ontario or all CSA jurisdictions should establish a financial services compensation fund for investors who are defrauded by registrants; what are the benefits and the barriers?
  • The experience of Quebec’s Financial Services Compensation Fund, as well as the experience of investor compensation funds in the UK.
  • The panel explores the ability of investors to recover when a dealer becomes insolvent with related fraudulent activity using the First Leaside case as an example, particularly to highlight the limitations of most investor compensation funds when a firm becomes insolvent.

Comments

CHAIR: Gil Lan, Associate Professor, Ryerson University Ted Rogers School of Management.

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