The Canadian Securities Administrators (CSA) is setting up an Investor Advisory Panel to aid in the regulators’ policy-making decisions and help it focus more on its investor protection mandate.
"We listened to retail investor advocates who expressed a need for more structured and sustained engagement with retail investors to assist in policy-making," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.
Panel to provide input to CSA
"This new panel will serve as advisors to the CSA. We expect its input will provide us with meaningful insight into retail investors' concerns to aid us in formulating rules that enhance investor protection."
The panel will be made up of Canadian experts on retail investor concerns.
Their job will be two-fold: firstly, to represent retail investors and assist the CSA with its mandate, with a view to improving securities regulation and policy development, and, secondly, to enhance investor involvement in market regulation by encouraging discussions between retail investors and CSA members.
Advisory panel members will be involved in topics of priority
The panel members will provide feedback and written comments to existing and proposed CSA rules and policies, as well as ongoing concept papers and discussion drafts. It is expected to develop its own work plan and choose which topics and priorities to address, in addition to responding to CSA requests for advice and comment.
The CSA is seeking comments on the proposed panel and its terms of reference. After that, it will post an announcement on its website and accept applications for those wishing to be on the panel. The member selection process is expected to be completed in the spring of 2022. Interconnection with the Ontario Securities Commission's established Investor Advisory Panel will be ensured through cross-membership of at least one member.
