Osgoode's Investor Protection Clinic and Mutual Fund Dealers Association of Canada partner to support vulnerable investors
TORONTO, Nov. 2, 2021 /CNW/ - The Mutual Fund Dealers Association of Canada (MFDA) has made a two-year financial commitment to help the Investor Protection Clinic (IPC) at Osgoode Hall Law School meet the growing need for free legal services for wronged investors.
"Osgoode's IPC is a great organization and a worthwhile cause. Since its inception the IPC has provided an important public interest function through its focus on protecting investors and after several years of operation the MFDA is pleased to help the clinic to expand its capacity," says Mark Gordon, MFDA's president and CEO.
The first of its kind in Canada, the Osgoode Investor Protection Clinic was launched in 2016 to provide pro bono legal advice to people who believe their investments were mishandled and who cannot afford a lawyer. The clinic pairs 13 second- and third-year Osgoode JD students with supervising lawyers from leading business law firms in Ontario.
"The MFDA has been supportive of our clinic since the beginning and this latest investment further strengthens our relationship at a critical time." says IPC academic director Poonam Puri. Demand for the clinic's services more than tripled between May 1, 2020 and April 30, 2021 and remains disproportionately high. Puri attributes the growth to the perfect storm of market volatility and pandemic isolation that has left investors vulnerable to unsuitable and high-risk investment products.
"The funds from the MFDA will allow us to create added value through client support and investor education, while also helping advance our research to inform public policy and practice in investor protection," she says. "We couldn't do this without the support of the legal community."
The MFDA is the self-regulatory organization ("SRO") for Canada's mutual fund dealers and their approximately 80,000 advisers. As an SRO, the MFDA is responsible for regulating the operations, standards of practice and business conduct of its Members and their representatives with a view to enhancing investor protection and strengthening public confidence in the Canadian mutual fund industry.
For more information, visit the Osgoode Investor Protection Clinic website and read the 2021 Annual Report.
About the Mutual Funds Dealers Association of Canada (MFDA)
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.
About Osgoode Hall Law School
Osgoode Hall Law School of York University has a proud history of 131 years of leadership and innovation in legal education and legal scholarship. A total of about 900 students are enrolled in Osgoode's three-year Juris Doctor (JD) Program as well as joint and combined programs. The school's highly selective Graduate Program in Law is also one of the finest in the country and one of the most highly regarded in North America. In addition, Osgoode Professional Development, which operates out of Osgoode's facility in downtown Toronto, offers both degree and non-degree programming for Canadian and international lawyers, non-law professionals, firms and organizations. Osgoode has an internationally renowned faculty of almost 60 full-time professors, and more than 100 adjunct professors. Our respected community of more than 18,000 alumni are leaders in the legal profession and in many other fields in Canada and across the globe.
About York University
York University is known for championing new ways of thinking that drive teaching and research excellence. Our students receive the education they need to create big ideas that make an impact on the world. Meaningful and sometimes unexpected careers result from cross-discipline programming, innovative course design and diverse experiential learning opportunities. York students and graduates push limits, achieve goals and find solutions to the world's most pressing social challenges, empowered by a strong community that opens minds. York U is an internationally recognized research university – our 11 faculties and 26 research centres have partnerships with 200+ leading universities worldwide. Located in Toronto, York is the third largest university in Canada, with a strong community of 53,000 students, 7,000 faculty and administrative staff, and more than 300,000 alumni. York U's fully bilingual Glendon campus is home to Southern Ontario's Centre of Excellence for French Language and Bilingual Postsecondary Education.
SOURCE Mutual Fund Dealers Association of Canada
Ian Strulovitch, Director, Communications & Public Affairs and Senior Legal Counsel, 416-943-7425, [email protected]
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