Grant opportunity targets financial literacy, investor protection, underserved communities

A new funding program will boost non-profits and charities focused on investor education and protection.

The initiative, launched by the Canadian Investment Regulatory Organization (CIRO), aims to improve financial literacy and enhance investor protection nationwide.

The funding will help organizations develop programs promoting investor education, focusing on those working with underserved communities.

“This initiative reflects CIRO’s continued commitment to fostering financial education and empowering underserved and vulnerable communities across Canada,” said Karen McGuinness, the regulatory organization’s senior vice president of finance.

CIRO is particularly interested in organizations serving racialized communities, low-income Canadians, youths, seniors, newcomers, persons with disabilities, and LGBTQ2S+ individuals, she said.

Applicants may receive up to $100,000.

Grants, funded by monetary sanctions collected by CIRO and allocated to its restricted fund, will support public interest projects delivering educational programs, research projects, and investor protection initiatives.

“This funding opportunity aligns with our strategic plan to understand, inform, and protect investors by creating a more inclusive and informed financial landscape,” McGuinness said.

A recent survey by Edward Jones Canada found that 84 per cent of Canadians felt they could better manage their personal finances had they learned more about financial management in school.

More than 60 per cent of respondents said they received no financial education during their formative years.

Past recipients of CIRO grants have used the money to better equip Canadians with the knowledge and tools they need to make informed financial decisions.

CIRO is the national self-regulatory organization overseeing all investment dealers, mutual fund dealers, and trading activity in Canada’s debt and equity marketplaces.