For Immediate Release
April 15, 2008

CSA increases financial literacy among youth with “Financial Fitness Challenge”

Montreal - The Canadian Securities Administrators (CSA) are pleased to announce that more youth than ever are becoming financially fit, through their participation in the CSA’s "Financial Fitness Challenge."

This year, the CSA invited youth aged 15 to 21 to take part in the interactive on-line challenge from February 4 to 29 to learn more about the importance of saving and investing money for their future. There was a 42 per cent increase from last year in the number of Canadian youth who successfully answered on-line quiz questions and registered to win a scholarship.

Furthermore, while only 53 per cent of youth visiting the Financial Fitness Challenge website were very interested in personal finance before completing the CSA’s online challenge, 74 per cent said they were very interested in personal finance afterwards.

“Part of the CSA’s mandate is to improve the financial literacy of Canada’s youth and we are delighted to note that young people are increasingly interested in money management and investments,” said CSA Chair Jean St-Gelais. “It is especially encouraging that they are becoming more interested in learning about personal finances as they take on the responsibility of earning and handling their own money.”

The website, www.FinancialFitnessChallenge.ca, received 40,793 visits from youth who used the games, tips and other interactive activities - an increase of 18 per cent from 2007.

Teachers across the country were also invited to take the challenge by using the teacher resources on the site in their classrooms. Susan Joy Nowe, a teacher from Colonel Gray High School, in Charlottetown, P.E.I., won the $1,000 grand prize.

The 12 youth winners listed below, who hail from the Canadian provinces and territories, have each won a $750 scholarship by demonstrating their financial fitness savvy by successfully answering the series of on-line quiz questions:

  • Kaylin Fantin (British Columbia)
  • Tong Li (Alberta)
  • Shalisse Slaney (Saskatchewan)
  • Claudia Muller-Moran (Manitoba)
  • Kailey McLeod (Ontario)
  • Sandra Vanessa Ndikumasabo (Québec)
  • Nicole Chiasson (New Brunswick)
  • Raphael Schaefer (Nova Scotia)
  • James Martin (Prince Edward Island)
  • Allison Kelly (Newfoundland and Labrador)
  • Stephen Allison (Northwest Territories)
  • Mariele dePeuter (Nunavut/Yukon)

Although the Financial Fitness Challenge for 2008 is over, the site is accessible year-round, at www.FinancialFitnessChallenge.ca. Youth who didn’t win or missed the contest can look forward to another edition of the CSA contest next year.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

Yukon Securities Registry
Fred Pretorius
867-667-5225
British Columbia Securities Commission
Andrew Poon
604-899-6880
1-800-373-6393 (BC & Alberta only)
www.bcsc.bc.ca
Securities Registry
Northwest Territories
Donald MacDougall
867-920-8984
www.justice.gov.nt.ca/SecuritiesRegistry
Alberta Securities Commission
Mark Dickey
(403) 297-4481
1-877-355-0585 (toll free)
www.albertasecurities.com
Nunavut Securities Registry
Bruce MacAdam
867-975-6586
Saskatchewan Financial Services Commission
Barbara Shourounis
306-787-5842
www.sfsc.gov.sk.ca
Manitoba Securities Commission
Ainsley Cunningham
204-945-4733
1-800-655-5244 (Manitoba only)
www.msc.gov.mb.ca
Ontario Securities Commission
Patricia Trott
416-593-8303
1-877-785-1555 (toll-free in Canada)
www.checkbeforeyouinvest.ca
www.osc.gov.on.ca

Autorité des marché financiers
Frédéric Alberro
514-395-0558 poste 2176
1-800-361-5072 (Québec only)
www.lautorite.qc.ca

New Brunswick Securities Commission
Jane Gillies
506-643-7745
1-866-933-2222 (New Brunswick only)
www.nbsc-cvmnb.ca
Nova Scotia Securities Commission
Natalie MacLellan
902-424-8586
www.gov.ns.ca/nssc
Department of Attorney General
Prince Edward Island
Mark Gallant
902-368-4552
www.gov.pe.ca/securities
Financial Services Regulation Division
Newfoundland and Labrador
Doug Connolly
709-729-2594
www.gov.nl.ca/scon