IIROC provides funding for investor legal aid

By James Langton | August 11, 2020 | Last updated on August 11, 2020
1 min read
microphones sitting on table

The Investment Industry Regulatory Organization of Canada (IIROC) is providing funding to Osgoode Hall Law School’s Investor Protection Clinic (IPC), which provides legal aid services to investors.

The IPC announced that IIROC will provide it with annual funding for five years, enabling its work to help harmed investors and provide investor education.

“IIROC has referred investors to the clinic since it was first established, so we are pleased to take the important next step of sponsorship,” said Doug Harris, vice-president and general counsel at IIROC, in a statement.

“This strengthens our commitment to help the clinic provide critical, free access to legal services for investors,” Harris added.

The clinic, which was launched in 2016, pairs Osgoode students with practising lawyers to help aggrieved investors pursue claims.

“Vulnerable retail investors need help in navigating a complicated legal system,” said professor Poonam Puri, founding director of the IPC, in a release.

“Our students, under the supervision of some of the finest lawyers in Canada, are able to provide legal assistance while, at the same time, learning core legal skills and connecting real people with theoretical concepts,” Puri said.

The IPC was initially founded in partnership with advocacy group the Canadian Foundation for Advancement of Investor Rights (FAIR Canada) with funding from the NEO Exchange, the Law Foundation of Ontario and an award from a securities class action.

“Support from generous partners such as IIROC is absolutely critical to the Osgoode Investor Protection Clinic’s success,” Puri added.

James Langton headshot

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.