Securities regulators publish summary of investor education initiatives

The Canadian Securities Administrators (CSA) concluded Investor Education Month in October by publishing the CSA’s Investor Education in Canada 2022 report. Published annually, the report highlights investor education initiatives undertaken by regulators between June 2021 and July 2022.

“Investor education and protection is an ongoing and evolving activity for the CSA and its members. As outlined in the CSA’s three-year business plan, this is a key priority and we will continue to enhance investor protection through expanded investor education outreach and improving the ability for investors to obtain redress,” says CSA chair and chair and CEO of the Alberta Securities Commission (ASC), Stan Magidson.

The report, produced by the CSA’s Investor Education Committee (IEC), goes on to say that the CSA’s goals include adopting a framework that facilitates investors’ ability to contribute to policy making and enhancing investor protection through expanded investor education outreach. 

Nationally, the CSA reports discusses its digital campaigns to inform Canadians about CSA policies and regulation. Their efforts include activities to raise awareness of client focused reforms, and to inform Canadians about the benefits of appointing a trusted contact person. The IEC also created a series, published in social channels, “educating Canadians about the stock markets, investment scams and the securities industry,” they write. Information about romance scams, crypto asset scams and elder abuse also featured in the CSA’s outreach efforts during the year.

Fraud awareness 

Divided by province and by regulator, the report looks at crypto asset investing, related scams and at other efforts put forth by regulators during the year to help investors grow their knowledge. Fraud awareness features prominently in the activities of many of the regulators discussed, financial barriers for women were explored, environmental, social and governance (ESG) investors addressed, and both virtual and in-person events were held throughout the year – all detailed in the CSA report.

In British Columbia, for instance, the British Columbia Securities Commission (BCSC) ran a public awareness campaign with a goal of empowering new and less savvy investors, connecting with consumers in that province by using social media, television, radio, podcasts, transit shelter advertising, Reddit and Twitch. “Key goals of the campaign were to encourage British Columbians to slow down and think before they invest and learn how to recognize and report investment fraud.”

At the same time, the Financial and Consumer Services Commission of New Brunswick (FCNB) worked to improve its online experience and to connect with older adults by launching a microsite. The Manitoba Securities Commission (MSC), meanwhile, partnered with community radio to reach the same constituents in that province.

Elder abuse 

Throughout senior’s month in June that year, the MSC partnered with CJNU93.7 FM to provide information on topics such as estate planning, trusted contact persons legislation and fraud prevention, culminating with a panel of experts convened to discuss financial exploitation and mistreatment of older Manitobans.

“CJNU proved an ideal medium to help MSC connect with seniors on a meaningful level, bringing together passionate speakers from the community, each with a distinct voice, to discuss elder abuse and fraud awareness,” the CSA writes. “The station helped share the message with thousands of seniors, families and caregivers. For the MSC, community radio remains a reliable and cost-effective way to connect with key demographics.”