Business People Meeting Discussion in a boardroom concept

The founder of investor advocacy group the Canadian Foundation for Advancement of Investor Rights (FAIR Canada) Ermanno Pascutto is returning to lead the organization he founded back in 2008.

The Toronto-based group, which advocates for retail investor interests, has appointed Pascutto interim executive director, effective March 1, replacing Frank Allen, who stepped down in February.

To step back in as interim executive director, Pascutto has resigned from his role as chair of FAIR Canada. In his place, the board has appointed its vice chairs, Ellen Roseman and Guy Lemoine, as co-chairs.

Additionally, FAIR has appointed a veteran lawyer and industry executive, Douglas Walker, as senior policy counsel. It has also retained Line Deslandes as a policy consultant, and added independent investor advocate Larry Bates to its board.

Walker was previously general counsel and head of compliance at Credit Suisse Canada. He was also chief compliance officer at BMO Capital Markets, and has had stints at the Toronto Stock Exchange (TSX) and at the Investment Dealers Association of Canada (IDA).

Deslandes is a consultant with a background in securities industry compliance and regulation.

Bates is now an independent investor advocate, author and consultant, after spending 35 years in banking in Canada and the U.K.

The group is currently searching for a permanent executive director, and is seeking to renew its board.

“FAIR Canada will continue its mission of being a leading national voice for investors in securities regulation. We will continue to advocate for the interests of investors and the integrity and fairness of the Canadian markets including making submissions to regulators, SROs and government,” Lemoine said in a statement.