MONTREAL - The Canadian Securities Administrators said Thursday it plans to establish an advisory panel to represent the interests of retail investors on Canada-wide policy issues.
The CSA said it wants the new group to bring more retail investor perspectives to regulation, as well as to improve dialogue between those investors and provincial regulators.
CSA Chair Louis Morisset said in a statement that retail investors have been asking for more structured and sustained engagement with regulators.
Currently retail investors provide feedback on proposed rules through comment letters or ad hoc engagement with CSA members.
The CSA, which is the umbrella organization of Canada's provincial and territorial securities regulators, says it is seeking comments on the proposed panel and will open the site to accept applications after the comment period ends on Feb. 1.
It says the panel will be composed of experts on retail investing from across the country with an aim for a diversity of backgrounds. The CSA expects to name members by the spring.