News Release

Released: 04/27/01 Contact: Andrew Poon
NR 01-15 (604) 899-6880 or
(BC only) 1-800-373-6393

B.C. Securities Commission Funds Program to Put Investor Self-Help Books in Every Library

Vancouver -- The Commission has approved a $172,000 grant to Investor Learning Centre to equip every public library in B.C. with a package of investor education books and to set up a toll-free investor help line.

The BCSC grant, the result of the Centre's request for support from the BCSC Education Fund, will help ILC provide easy access for people throughout the province to high quality, Canadian investment education materials. The "Gift of Books on Investing" project will use B.C.'s 250 public libraries as a cost-effective way of reaching as many people as possible throughout the province.

"We are happy to support the ILC in their efforts to provide effective education and training to both industry members and the public," says BCSC Executive Director Steve Wilson.

"With this program of providing books to public libraries, we can help B.C. investors -- especially seniors who are favourite targets for con artists -- to protect themselves from fraud and inappropriate investments."

Titles being considered for distribution to the libraries include:

A similar project the ILC launched last year in Alberta funded by the Alberta Capital Market Foundation, established by the Alberta Securities Commission in 1998, won high praise from that province's library community, who say the books are much in demand.

"The ILC is very pleased with the generous funding support provided by the BCSC for this exciting project which is designed to provide all residents of British Columbia with direct access to independent, unbiased investment information," says Jamie Hood, Western Canada vice-president for the Canadian Securities Institute, which funds the Centre.

The BCSC grant will also fund an "Investor Outreach Program" to give B.C. investors access to a toll-free line and an email address with expert resource staff on-hand to help people with investment-related questions.

The programs are part of the Commission's Investor Education Week's activities which also included a one-day program teaching Gr. 8 students the basics of investing and saving. The programs are expected to be launched later this year.

Established in 1996, the ILC is Canada's only independent and not-for-profit educational organization solely dedicated to providing non-promotional and easy-to-understand investment information to the general public.

It is funded through revenues from its low-cost programs and by grants from the Canadian Securities Institute. It has joined with several provincial securities commissions, including the BCSC to hold investor education seminars in centres throughout Canada. More information about the ILC is available at: www.investorlearning.ca

The $2.5 million BCSC Education Fund was established to promote investor education and industry understanding of securities regulation in the province. It is funded through administrative penalties that the Commission levies against those who violate the Securities Act and regulations. Also put into the fund are monies the Commission collects in excess of its costs when it negotiates settlements with those who have violated the Act. Please contact Communications Manager Michael Bernard 899-6500 or (BC only) 1-800-373-6393 or email MBernard@bcsc.bc.ca for information about applying for grants from this fund.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the decision can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Media Relations Officer Andrew Poon at 899-6880.