FAIR Canada has announced it is adding three new members to its boards, three weeks after announcing it had returned $2.4 million to the Jarislowsky Foundation after failing to meet a 200% matching condition.
In 2012, the Jarislowsky Foundation gave FAIR Canada $2 million for an endowment fund, which came with a 200% matching condition. The original deadline to do so was extended a number of times, but a final deadline of Sept. 30, 2019 passed with no resolution.
Stephen Jarislowsky stepped down from FAIR Canada’s board of directors at the same time and said it was up to regulators to fund an independent organization to advocate for retail investors and financial consumers.
Board moves forward
In an effort to move ahead, the board said on Thursday that it has added three new members. One is Wanda Morris, a Vancouver-based CPA and social activist with over three decades of business experience, and a campaigner, advocate and media commentator.
Also added is Pat Foran, who has worked with several CTV affiliates since 1986 and is the network’s consumer advocate. Foran also is an advocate for financial literacy and served on the federal government's Financial Literacy Task Force from 2009-2011.
The third member is Line Deslandes, who has worked in the finance and capital markets industry for close to 20 years. She led legal and compliance teams of portfolio managers, retail funds and hedge funds in Canada, Europe and in the U.S.
