TORONTO, July 3, 2012 /CNW/ - The Ontario Securities Commission (OSC) has allocated $1 million of money collected from monetary sanctions and settlements to FAIR Canada, a national non-profit organization dedicated to advancing investor interests.
"Constructive input from investors is encouraged in the development of regulatory policy," said Mary Condon, Vice-Chair of the OSC. "FAIR Canada plays an important role in advancing the interests of retail investors and promoting investor protection. The OSC is pleased to provide funding for FAIR Canada's ongoing work."
The money will assist in funding the operations of FAIR Canada and will be paid in two instalments of $500,000 over a two-year period.
The OSC administers and enforces securities legislation in the province of Ontario. The OSC's statutory mandate is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets.
SOURCE Ontario Securities Commission