The funds will be released over a five-year period to support the IPC's day-to-day operations
The Ontario Securities Commission has committed to investing up to $875,000 in the Osgoode Hall Law School Investor Protection Clinic.
The funds will be released over five years to support the IPC's day-to-day operations. The clinic, which was launched in 2016, offers pro bono legal help to Ontarians who have experienced investment loss but cannot afford legal representation.
The IPC helps investors obtain access to redress through not only free legal advice but also education and engagement programs. On its fifth anniversary in 2022, the clinic conducted the "Access to Justice and Fair Outcomes For Harmed Investors" conference to address access to justice gaps for affected investors seeking recovery.
"Supporting the Osgoode IPC aligns with our mandate of protecting investors and fostering confidence in the financial markets. This initiative not only enhances investor protection but reinforces our commitment to improving investors' access to redress and the supports available to them to navigate complex financial disputes," OSC CEO Grant Vingoe said in a statement.
In 2021, the Mutual Fund Dealers Association of Canada made a two-year funding commitment to the Osgoode IPC to back client support and investor education initatives. The funds also supported the clinic's research to inform investor protection-related public policy and practice.
The clinic was co-founded by Osgoode Hall Law School Poonam Puri, who received the David Walter Mundell Medal for excellence in legal writing in 2020. Her research focused on corporate governance, corporate law, securities regulation and white-collar crime.
At Osgoode, Puri served as associate dean; associate dean, research, graduate studies and institutional relations; and Faculty Council chair. She was also founder and director of the business law LLM at Osgoode Professional Development.
The OSC's mandate is to shield investors from unfair, improper or fraudulent practices and to cultivate fair, efficient, and competitive capital markets. The commission also aims to foster capital formation, help stabilize the financial system, and mitigate systemic risk.
