Financial Services

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FAIR Canada and PIAC Welcome Steps to Ensure Compliance with OBSI Requirements

Friday, December 8th, 2017
FAIR Canada and PIAC welcome the CSA, IIROC and MFDA taking a step in the right direction to improve compliance with the OBSI dispute resolution process for securities complaints. We are also pleased to see that the CSA, IIROC and MFDA may view refusals or low ball offers as an indication of problems with a registered firm’s complaint handling practices including their obligation to deal fairly, honestly and in good faith with clients, act within the applicable standard of care, or have implemented and maintained effective complaint handling procedures.

PIAC Research Finds Increasing Legal Risk in Payment Systems Being Borne by Consumers

Friday, December 1st, 2017
A new research report published by the Public Interest Advocacy Centre (PIAC) today demonstrates increasing legal risk being borne by consumers when using established as well as new innovative electronic payment systems. The report finds inconsistent allocation of legal risk from electronic payments transactions depending on their form, jurisdictional overlaps and gaps between federal and provincial rules and asymmetrical service provider contracts that leave consumers at a distinct disadvantage.

Summer Newsletter: Bankers Behaving Badly

Tuesday, August 1st, 2017
A true financial code may finally see the light of day in Canada after a promise years ago.

Banking on Change

Wednesday, December 21st, 2016
The Financial Code as we knew it ended up a bust, but a possible rebirth and changes to payday loans could improve consumers financial well-being

Summer 2016 Newsletter: Financially Uncertain

Tuesday, July 5th, 2016
PIAC continues to push for stronger regulations for payday loans, and a certain identity for the financial planning/advice industry

Bad Advice

Thursday, November 26th, 2015
Unregulated financial services can create confusion and uncertainty amongst consumers

Lending Consumers a Hand

Thursday, November 26th, 2015
The Ontario Government is taking another look at the payday loan industry and PIAC wants to see more responsible lending to consumers nationwide

PIAC Files Submission on Financial Advisory and Financial Planning Policy Alternatives for Ontario Consumers

Friday, September 25th, 2015
PIAC submits its views to the Ontario Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives. The Expert Committee was appointed by the Ontario Minister of Finance to provide advice and recommendations to the Ontario government regarding whether and to what extent financial planning and the giving of financial advice should be regulated in Ontario.

PIAC Files Submission on Alternative Financial Services to Ontario Ministry of Government and Consumer Services

Thursday, August 27th, 2015
PIAC submits an analysis to the Ontario Ministry of Government and Consumer Services as part of a consultation on how to strengthen consumer financial protection for consumers of alternative financial services. These services consisted of payday loans, instalment loans, money transfers (remittances), cheque cashing, pawnbroking, debt collection and rent-to-own.

PIAC Calls for New Payments Framework and Regulator

Monday, August 24th, 2015
In a new report, the Public Interest Advocacy Centre (PIAC) called for a payment system framework designed and implemented to oversee all retail payment-related activities, all types of payment instruments and all payments system providers in Canada. PIAC also recommended a dedicated body be established to monitor and regulate the Canadian payments ecosystem. The report, entitled “Innovative Oversight: strengthening the Canadian payments system,” was submitted to the federal Department of Finance as part of a consultation on the oversight of national payment systems.
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