News Release
Securities Regulators across Canada rate the first ever Investor Education Week a Success
-
Date:
1998-04-17 -
Number:
98/12
Released: 04/14/98 Contact: Douglas M. Hyndman or Adrienne R. Wanstall 899-6500 or
(BC only) 1-800-373-6393
April 14, 1998 - Canadian securities regulators report that Investor Education Week was a success.
This announcement comes at the conclusion of the first ever "Investor Education Week" held March 30 - April 3 by securities regulators across North and South America. An initiative of the Council of Securities Regulators of the Americas (COSRA), the recent investor education campaign was endorsed by Canadian securities regulators earlier this year.
"In recent years, a number of studies have illustrated the need for investors to become better educated about investing," said Douglas Hyndman, Chair of the Canadian Securities Administrators (CSA). "Helping investors to protect themselves is an objective to which the CSA is committed."
Contributing to the campaign’s success were the Canadian Securities Institute, the Investor Learning Centre, the Investment Dealers Association of Canada, the Investment Funds Institute of Canada, the Canadian Investor Protection Fund, the Canadian Depository for Securities, and community libraries.
"We have also been very pleased with the media response to Investor Education Week," Mr. Hyndman noted. "Our message has been very clearly and broadly communicated to the general public."
Highlights of the week included:
More than 11,000 CSA Investor Education Kits were distributed. The Kits include practical information and helpful tools that assist investors in investigating before they invest. The materials in the Kit are also available in english on the British Columbia Securities Commission Web site: www.bcsc.bc.ca and in english and french on the Web site of the Commission des valeurs mobilières du Québec: www.cvmq.com.
Over 3,000 people attended 14 educational seminars held across the country. Several securities regulators participated in the seminars, which were hosted by the Investor Learning Centre of Canada (ILC). A number of securities regulators also participated with the ILC in a national phone-in radio programme. In addition, the ILC unveiled its new Investor Resource Centre, the first in what will eventually be a series of such centres across Canada.
The members of the CSA reaffirmed their commitment to investor education. According to Mr. Hyndman, "Investor Education Week helped focus attention on the vital need for improved investor education. As regulators, we see the difficulties or hardships that could have been avoided had investors simply asked the right questions. If there is a single message we want to get across it would be: Get the facts -- investigate before you invest."
For further information about Investor Education Week or to obtain a CSA Investor Education Kit, please contact the securities regulator in your province or territory.
The Canadian Securities Administrators is comprised of the twelve provincial and territorial securities regulators.
CANADA-WIDE SUMMARY OF INVESTOR EDUCATION WEEK ACTIVITIES
British Columbia
The contents of the CSA Investor Education Kit are available on the BCSC web site: www.bcsc.bc.ca
Alberta
Over 1,300 CSA Investor Education Kits were distributed in Alberta with 500 going to approximately 30 public library systems.
Saskatchewan
Interest in the CSA Investor Education Kits is strong with over 400 Kits distributed to date by the SSC and the Investor Learning Centre.
Manitoba
An Investor Learning Centre 'Focus on Funds' seminar was held in Winnipeg involving the participation of Manitoba Securities Commission staff.
Several Commission staff participated on radio programmes and spread the message about Investor Education Week.
The North West Territories
Yukon
Ontario
Research commissioned by the OSC was released. That research showed:
fewer than 1 in 5 consider themselves highly knowledgeable when it comes to personal financial investments and 1 in 4 rate their level of knowledge as very low,
1 in 4 do not understand the relationship between risk and return.
The OSC Chair, Jack Geller, addressed the Toronto Board of Trade and the membership of the Investment Funds Institute of Canada on April 1, underscoring the joint industry/regulatory interest in investor protection through investor education. Mr. Geller also announced approval by the Ontario Minister of Finance of the new CSA Rule governing the sales practices of mutual fund dealers, that Rule to come into force in Ontario May 1.
Québec
the launch of the Commission des valeurs mobilières du Québec (CVMQ) Web Site;
and
an information sharing agreement between the CVMQ and the Office of the Inspector General of Financial Institutions.
Attending the news conference were the Chair of the CVMQ, Mr. Jean Martel, along with the Deputy Premier and Minister of State for the Economy and Finance, Mr. Bernard Landry, and the Inspector General of Financial Institutions, Mr. Jacques Dumont.
In Québec, the CSA Investor Education Kit includes an additional brochure (Make Your Money Grow) which encourages readers to incorporate a savings and investment plan into their household budgets as well as discussing other basics of finance and the capital markets. This brochure has been made available to all French-speaking communities across the Americas.
The CVMQ's new Web Site --www.cvmq.com --is online. Retail investors are encouraged to browse the site for information on the CVMQ, its activities and publications, FAQ (frequently asked questions), and links to other useful sites.
In addition, Mr. Martel announced the creation of a special fund dedicated to educating investors. "The investors' fund is to be financed in part from fines collected by the CVMQ for securities violations," said Mr. Martel. "It will help finance courses at educational institutions, ensure the presence of the CVMQ at investment fairs, help to advertise and conduct various activities to increase public awareness and provide investors with all the information they need to invest wisely and protect themselves".
Prince Edward Island
In addition to requests from the public, more than 80 kits were sent to law, accounting and brokerage firms, libraries, and schools.
The CSA Investor Education Kit also received favourable comments on a local radio variety show in its segment on investment news.
Retail investors are also encouraged to contact the Province's Web Site -- www.gov.pe.ca.
Nova Scotia
The news release was printed in the local newspaper, with pick-up from regional radio stations. Media coverage has helped spread the message.
Numerous kits were distributed to provincial high schools and the universities.
New Brunswick
The Office of the Administrator distributed 400 Kits to government offices, libraries, schools and universities.
Newfoundland and Labrador
Response from the high schools and students particularly those participating in the "Stock Market Game" was overwhelming.
CSA Investor Education Kits were distributed to libraries, government services, brokers, accountants.
| Alberta Alberta Securities Commission 4th Floor 300-5th Avenue SW Calgary AB T2P 3C4 Telephone: (403) 297-6454 Facsimile: (403) 297-6156 Information: (403) 297-4296 20th Floor 10025 Jasper Avenue Edmonton, AB T5J 3Z5 British Columbia British Columbia Securities Commission 200-865 Hornby Street Vancouver BC V6Z 2H4 Telephone: (604) 899-6500 1-800-373-6393 (BC only) Facsimile: (604) 899-6506 Web site: www.bcsc.bc.ca Manitoba Manitoba Securities Commission 1130 - 405 Broadway Winnipeg MB R3C 3L6 Telephone: (204) 945-2548 Facsimile: (204) 945-0330 New Brunswick Office of the Administrator of Securities P.O. Box 5001 133 William Street Suite 606 Saint John NB E2L 4Y9 Telephone: (506) 658-3060 Facsimile: (506) 658-3059 Newfoundland Securities Division Department of Government Services and Lands Government of Newfoundland and Labrador 2nd Floor, West Block Confederation Building P.O. Box 8700 St. John's NF A1B 4J6 Telephone: (709) 729-4189 Facsimile: (709) 729-6187 Web site: www.gov.nf.ca/ Nova Scotia Nova Scotia Securities Commission Joseph Howe Building 2nd Floor, 1690 Hollis Street P.O. Box 458 Halifax NS B3J 2P8 Telephone: (902) 424-7768 Facsimile: (902) 424-4625 Web site: www.gov.ns.ca | Ontario Ontario Securities Commission Suite 800 Box 55 20 Queen Street West Toronto ON M5H 3S8 Inquiries (416) 593-8314 Facsimile: (416) 593-8122 Publications: (416) 593-3699 Email: inquiries@osc.gov.on.ca Web site: www.osc.gov.on.ca Prince Edward Island Prince Edward Island Department of Community Affairs & Attorney General 95 Rochford Street, 4 Shaw North P.O. Box 2000 Charlottetown PE C1A 7N8 Telephone: (902) 368-4569 Facsimile: (902) 368-5283 Web site: www.gov.pe.ca Québec Commission des valeurs mobilières du Québec 800 square Victoria C.P. 246, Tour de la Bourse Montréal QC H4Z 1G3 Telephone: (514) 873-5326 1-800-361-5072 (Québec only) Facsimile: (514) 873-3090 Email: courrier@cvmq.gouv.qc.ca Web site: www.cvmq.com Saskatchewan Saskatchewan Securities Commission 800-1920 Broad Street Regina SK S4P 3V7 Telephone: (306) 787-5645 Facsimile: (306) 787-5899 Yukon Registrar of Securities Government of Yukon 2134 2nd Avenue P.O. Box 2703 Whitehorse YK Y1A 2C6 Telephone: (867) 667-5005 Facsimile: (867) 393-6251 Northwest Territories Registrar of Securities Department of Justice Government of the Northwest Territories 4903 - 49th Street 5th Floor, Court House P.O. Box 1320 Yellowknife NT X1A 2L9 Telephone: (867) 920-6964 Facsimile: (867) 873-0243 |