Canadian Securities Administrators creates panel to enhance retail investor protection

Newly appointed panel members also announced

Canadian Securities Administrators creates panel to enhance retail investor protection

The Canadian Securities Administrators (CSA) recently announced the establishment of an investor advisory panel as part of its ongoing effort to provide greater protection for retail investors across Canada.

The panel will provide insights and analysis to the CSA to ensure that retail investors’ interests are fully considered in developing strategic policies and regulations to strengthen Canada’s capital markets. It will also promote the coordination and enhancement of pan-Canadian investor-related issues.

To determine the members who will serve on the panel, the CSA formed a committee to conduct a public selection process through a call for applications. During the selection process, the committee considered candidates with backgrounds focused on advancing public policy relating to the financial well-being of Canadians, advising investors, providing financial advice to households, and experience in market or academic research.

Each panel member is appointed for staggered terms of either two or three years beginning on September 1. The newly appointed panel members are as follows:

  • Guy Lemoine

Lemoine has been appointed as the panel chair. He is a private practice lawyer who has served on the boards of several organizations. He led the Quebec Financial Markets Administrative Tribunal and served as vice-president and commissioner of the Commission des valeurs mobilières du Québec.

  • Cristie Ford

Ford is a law professor at University of British Columbia. Her research focuses on financial and securities regulation, administrative law, regulatory design, access to justice, and the relationship between innovation and regulation.

  • Eric Spink

Spink is a private practice lawyer who previously served as a member of the consumer and investor advisory council of the Ombudsman for Banking Services and Investments.

  • Ryan Clements

Clements is an assistant law professor and currently holds the Chair of Business Law and Regulation at the University of Calgary. His research focuses on securities law, crypto assets, fintech, and investment funds.

  • Susan Milburn

Milburn is a financial advisor at Raymond James Ltd. in Saskatchewan. She is a member of the Investment Industry Regulatory Organization of Canada’s proficiency committee − a national advisory group that reviews and recommends proficiency requirements for industry participants.

  • Millie Acuna

Acuna currently serves as the asset building programs manager at Supporting Employment and Economic Development in Winnipeg. She is also a member of the Financial Consumer Agency of Canada’s consumer protection advisory committee.

  • Line Deslandes

Deslandes has 20 years of experience in the financial services and capital markets industry. She held several high-ranking positions across the securities law sector in Quebec, the US, and England.

  • Annick Kwetcheu Gamo

Gamo is the founder of Code F. Technologies financières inc. − a social fintech organization that develops AI-based solutions to improve citizens’ financial health.

  • Jason Alcorn

Alcorn is an associate law professor at Université de Moncton. He previously served as senior legal counsel and special advisor for the Financial and Consumer Services Commission of New Brunswick.

The CSA also announced the cross appointments of Ontario Securities Commission’s investor advisory panel chair Neil Gross and member Brigitte Catellier to the panel. These appointments seek to ensure the appropriate interconnection between the two panels.

Gross is a lawyer with over 35 years of experience handling investor protection issues. He has been serving on the OSC’s panel since 2017. Meanwhile, Catellier is the associate director of the Investor Protection Clinic at Osgoode Hall Law School. She joined the OSC’s panel in 2021.

“We are thrilled to have this group of highly qualified individuals join the CSA IAP,” said CSA chair Stan Magidson. “Their contributions will support the CSA in its long-standing commitment to provide beneficial regulatory outcomes for retail investors and will complement the work of existing investor panels and CSA member committees.”

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