TORONTO, Feb. 28 /CNW/ - 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
"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
"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.
SOURCE Ontario Securities Commission
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