World MoneyShow Toronto - October 20-22

SIPA has entered into an agreement with the World MoneyShow for their show in Toronto October 20-22, 2009. It is a multi-day event for private investors and traders. The show will feature many of the individuals who appear on BNN, media people including Bill Carrigan and Jonathan Chevreau, also Warren MacKenzie and Gail Bebe who recently authored books on investing.

It will be an interesting few days and SIPA is recommending that members take advantage and attend. We will be there and hope to have the opportunity of speaking with members who attend. Admission is free and an invitation will be going out to members September 9th.

Will The Expert Panel Final Report Impact Investor Protection?

SIPA made an unsolicited submission to the Expert Panel and subsequently appeared before them. We recognized their limited mandate which was to recommend the best approach to securities regulation as there are two schools, one recommedns a national securitites regulator, the other recommends retaining provincial control with harmonization.

Their mandate did not mention investor protection. Neverthless we made a submission which included recommendation for a national financial services regulator similar to the Quebec model, a national authority for investor protection with the power to order restitution, and an Investor Protection Fund to pay the restitution.

Few of the provinces order restitution and fewer still pay restitution.

The Expert Panel recommended a natioanl regulator with the power to order restitution, and an Investor Protection Fund to pay the restitution. I believe this is the first time that a committee has mad a recommendation for such a fund.