Southern Alberta Council on Public Affairs (SACPA)

Financial mismanagement by financial institutions and brokers is affecting individuals, municipalities, universities, retirement plans and pension funds in Canada. Seniors have been hardest hit since low interest rates have reduced their retirement investment income, forcing them into potentially risky investments. Arguably, there are systemic methods by which Provincial Securities Commissions violate or “exempt” Provincial Securities Act laws for the benefit of investment firms and brokers. This costs Canadians billions of dollars each year and has gone on for years without notice to the investing public. It is doing irreversible harm to our economy and to society. It also illustrates where government agencies and Provincial Securities Commissions are forgetting their mandate to protect Canadians. The speaker will show how regulators are willfully blind to thousands of industry registrants who are legally registered in the capacity of “dealing representatives”. (Salespersons) Thousands of such product s