TORONTO, August, 11, 2020 – The Investor Protection Clinic (IPC) at York University’s Osgoode Hall Law School – the first clinic of its kind in Canada – has entered into a partnership with the Investment Industry Regulatory Organization of Canada (IIROC) in a joint effort to meet a critical need in the community for free legal services for vulnerable, harmed retail investors.
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC will provide the IPC with major funding annually for the next five years to allow the Clinic to continue to create value through file work and investor education.
“Support from generous partners such as IIROC is absolutely critical to the Osgoode Investor Protection Clinic's success,” said Professor Poonam Puri, Founding Director of the Clinic, which provides free legal advice to people who believe their investments were mishandled and who cannot afford a lawyer.
“Our partners help to ensure that the Clinic is able to provide professional and effective services to harmed investors. Without IIROC and our other partners, we would not be able to provide much-needed legal services to vulnerable retail investors.”
“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, IIROC’s Vice-President and General Counsel. “This strengthens our commitment to help the Clinic provide critical, free access to legal services for investors.”
The IPC is a game changer in the retail investment landscape. Since launching in 2016 with seed funding from the Law Foundation of Ontario, the Clinic has recorded numerous wins for clients. Clinic cases have ranged from seniors who have lost their entire retirement savings, to people who have been swindled by trusted members of their community and people who have had their investments mishandled by advisors.
The Clinic is staffed with Osgoode students who are paired with supervising lawyers from law firms in Ontario. “Vulnerable retail investors need help in navigating a complicated legal system,” Puri said. “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. We are so grateful for our collaboration with these supervising law firms and lawyers.”
For more information about the Investor Protection Clinic, visit its website. The Clinic’s 2020 Annual Report can also be found here.
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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.
About the Investment Industry Regulatory Organization of Canada (IIROC)
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms and their nearly 30,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.
Media Contacts:
Virginia Corner, Communications Manager, Osgoode Hall Law School of York University, 416-736-5820, vcorner@osgoode.yorku.ca
Gloria Suhasini, York University Media Relations, 416-736-2100 ext. 22094, suhasini@yorku.ca
Andrea Zviedris, Manager, Media and Public Affairs, IIROC, 416-943-6906, azviedris@iiroc.ca
