Ontario Securities Commission Allocates Settlement Money to Advance Financial Literacy Education in Ontario Schools

TORONTO – The Ontario Securities Commission (OSC) has allocated close to $2 million in settlement money from enforcement proceedings to help advance financial literacy education in Ontario schools.

“Financial literacy is an important part of investor protection and the OSC supports educational efforts to help Ontarians develop the skills and knowledge needed to succeed in an increasingly complex financial world,” said Howard Wetston, Q.C., Chair of the OSC.

This settlement money will assist the Ministry of Education in integrating its new financial literacy program into the curriculum for Grade 4 to 12 students across Ontario, starting in September 2011.

This funding is in addition to the ongoing funding from settlement money the OSC provides to the Investor Education Fund (IEF). The IEF is a non-profit organization established in 2001 by the OSC to develop and promote independent financial information, programs and tools to help consumers make better financial and investing decisions. The OSC supports the work of the IEF in providing and expanding outreach initiatives to investors, and strengthening the financial literacy of Ontarians.

“There has always been a need for financial education and the recent global financial crisis has made it even more imperative,” said Mr. Wetston. “We are pleased to support a program that will help thousands of Ontario students acquire essential skills to make informed decisions about their finances throughout their lives.”

The OSC administers and enforces securities legislation in the province of Ontario. The OSC’s statutory mandate is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets.

 

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