November is Financial Literacy Month
November 1, 2013(Toronto, Ontario) – The Investment Industry Regulatory Organization of Canada (IIROC) is kicking off Financial Literacy Month today by participating in a national launch in Ottawa where it will showcase investor education resources it has created for Canadians.
At a special event hosted by the Financial Consumer Agency of Canada (FCAC), IIROC joined other organizations to raise awareness and promote financial literacy across generations.
“Financial Literacy Month is an opportunity for Canadians to stop and think about their financial goals and whether they have the knowledge and information needed to make informed decisions,” said IIROC President and Chief Executive Officer, Susan Wolburgh Jenah.
In time for this year’s Financial Literacy Month, IIROC launched an online Glossary of Financial Certifications to help Canadians make sense of the wide range of certifications in use. IIROC is partnering with Better Business Bureau to distribute 40,000 bookmarks throughout the country to inform the public about this new service. It is also highlighting IIROC’s popular AdvisorReport, another online searchable database that enables investors to check the backgrounds and disciplinary history when selecting or working with an advisor at an IIROC-regulated firm.
“IIROC offers terrific resources that will help consumers make smarter investment decisions and avoid scams,” said Spencer Nimmons, Vice President of Business Relations for the Council of Better Business Bureaus (CBBB). “BBB is pleased to be part of this effort, and we look forward to working with IIROC to get these materials into the hands of consumers across the country.”
Also in time for Financial Literacy Month, IIROC is continuing to partner for its second year with Junior Achievement of Central Ontario (JACO) to educate and motivate young people about financial literacy. IIROC staff volunteers will be in several Greater Toronto Area classrooms on November 7, 2013, to teach for one full school day in JA’s Economics for Success program.
“Junior Achievement of Central Ontario is delighted that IIROC has chosen once again to partner with us where IIROC staff get a chance to share their knowledge and experience in a classroom environment and make a meaningful difference in the lives of young people,” said Jane Eisbrenner, President and Chief Executive Officer of JACO.
IIROC’s full suite of investor education tools and resources includes:
- Online investor resource centre featuring brochures, webcasts and online tutorials;
- How to check the background, education and disciplinary history of an advisor working for an IIROC-regulated firm online through AdvisorReport;
- Making sense of commonly used financial certifications in Canada and understanding what it takes to achieve them by accessing IIROC’s online Glossary of Financial Certifications;
- Learning how trading works with “IIROC’s Guide to Trading on Equity Markets”;
- How to make a complaint to a firm or to IIROC directly;
- Exploring the range of dispute resolution options available to help investors when they are seeking compensation;
- Best practices and insights from international financial literacy and investor education practitioners who participated in the 2013 global conference, hosted by IIROC in June, 2013.
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.