Strengthening financial literacy and investor knowledge
TORONTO, Nov. 4, 2014 /CNW/ - As part of Financial Literacy Month, the Investment Industry Regulatory Organization of Canada (IIROC) is launching new tools and participating in a number of initiatives to promote financial literacy and make investor education resources more accessible to Canadians.
"Everyday life requires financial literacy skills and that's why IIROC has renewed partnerships and created new tools in time for this year's Financial Literacy Month. Our focus is on helping Canadians make sound and informed decisions as they navigate through different life stages," said IIROC Vice President of Public Affairs Lucy Becker.
To help young people develop basic financial skills like budgeting, saving and understanding the importance of planning, IIROC staff volunteers are once again spending a day in classrooms teaching Junior Achievement's Grade 8 Economics for Success Program. This marks the third year that IIROC staff have partnered with Junior Achievement in Central Ontario.
IIROC has also developed a new Investor Quiz, to be launched next week, designed to test the public's basic understanding of investing, which may be especially useful to those investing for the first time. For the second consecutive year, IIROC is partnering with the Better Business Bureau to distribute and promote its investor resources through BBB's networks across Canada.
In addition, IIROC's online suite of investor education tools and resources, including a searchable database called AdvisorReport and the Glossary of Financial Certifications, are part of the Financial Consumer Agency of Canada's newly launched Canadian Financial Literacy Database which will be unveiled at the National Conference on Financial Literacy in Vancouver later this week.
Canadians who are already working with or choosing to work with an advisor may find the AdvisorReport particularly useful as it provides important information about the background, education, qualifications and experience of those working for IIROC-regulated firms.
This week IIROC launched an improved Internet Resources for Investors section on its website that includes organized links to resources from IIROC and other organizations that are geared to investors at different life stages, with a special emphasis on seniors. The links are organized in a way that seniors, young people, and those seeking information on compensation or fraud prevention, can quickly find material in one central location.
"IIROC is pleased to collaborate with other organizations committed to strengthening the financial literacy and investing knowledge of Canadians by promoting existing resources and collectively addressing other consumer needs," added Becker.
Click here to find full summary of all of IIROC's financial literacy and investor education initiatives.
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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
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