October 28, 2002
For Immediate Release

Securities regulators reward young Canadians for investment savvy

Vancouver - Canada's securities regulators are raising the awareness of investing concepts among young Canadians by launching the Test your Financial I.Q. Contest.

The contest's goal is to encourage Canadians from 14- to 18-years of age to learn more about investing. Sponsored by the Canadian Securities Administrators (CSA) the umbrella organization of the 13 provincial and territorial securities regulators in Canada the contest runs until Jan. 31, 2003. To participate, young people must submit, in English or French, a 500- to 750-word essay answering the following contest question:

Q. If you win the contest prize of $2,500 and decide to invest, which financial products might interest you most and why?

Please consider:

  • What is your financial goal?
  • How much time do you have to meet this financial goal?
  • What type of risk are you willing to take?
  • Have you diversified your investments?
  • What is your desired return?

Contestants are also asked to give their views on whether it is important for young Canadians to learn about investing at an early age.

A total of 13 provincial prizes of $750 each and a national grand prize of $2,500 will be awarded next April during Investor Education Month.

The CSA's theme for all investor education initiatives is investigate before you invest, says CSA Chair Doug Hyndman. This contest encourages young Canadians to start the investigation process.

We want to encourage young Canadians to learn about the various investment products available and compel them to think about why becoming educated about investing is so important to their future financial well-being.

The contest rules and the entry form can be found in the Investor section of provincial securities commission websites or on the CSA website at www.csa-acvm.ca.

Media relations contacts:

Joni Delaurier
Alberta Securities Commission

Andrew Poon
B.C. Securities Commission
1-800-373-6393 (B.C. & Alberta only)

Ainsley Cunningham
Manitoba Securities Commission
1-800-655-5244 (Manitoba only)

Christina Taylor
N.B. Securities Administration Branch
1-866-933-2222 (N.B. only)

Susan Powell
Securities Commission of Newfoundland and Labrador

Tony Wong
Registrar, Securities & Corporate Registries, Department of Justice
Government of the Northwest Territories

Terri Williams
Ontario Securities Commission

Barbara Timmins
Commission des valeurs mobilires du Qubec
1-800-361-5072 (Quebec only)