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Press Release
6/28/2007
FCAC creates new Financial Literacy Program
Ottawa, June 28, 2007 — The Financial Consumer Agency of Canada (FCAC) has set up a new division to develop and implement a national financial literacy program. This new initiative will benefit Canadians by enabling them to improve their knowledge of financial issues.
Jim Callon, FCAC Acting Commissioner, has appointed Susan Murray as the new director of the financial literacy program. Ms. Murray will oversee the program’s activities. Jérémie Ryan has been appointed as the program’s project officer, and Caroline Cakebread will assist in the development of the program.
In the 2007-08 federal budget, the Government of Canada announced an investment of $3 million, over two years, for FCAC to develop instructional materials for financial literacy education — especially for young people — and to facilitate the sharing of these materials and information with other financial education providers.
“This initiative provides important and positive support for the efforts of the Agency to advance financial literacy across the country,” stated Jim Callon, Acting Commissioner. “This initiative is a continuation of the work FCAC and its partners from provincial governments, non-profit and private-sector organizations began in 2005 with the symposium entitled Canadians and Their Money”.
The new program will enable FCAC to enhance the financial literacy education of Canadians and, of young people in particular, and to exchange the knowledge the agency gains, as well as the materials we develop, with other interested parties.
FCAC ensures compliance with the consumer protection laws and monitors codes of conduct and public commitments that apply to banks and federally incorporated trust, loan and insurance companies. FCAC also provides consumers with accurate, objective information about financial products and services, and informs Canadians of their rights and responsibilities when dealing with federally regulated financial institutions.
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Biographies are attached.
Media contacts:
Anna Arneson |
Martine Bélanger |
Communications Officer |
Communications Officer |
613-948-2707 |
613-941-8982 |
arneson.anna@fcac.gc.ca |
belanger.martine@fcac.gc.ca |
Biographies
Susan Murray
Susan Murray has a broad range of experience in both the public and private sectors. She joined the Financial Consumer Agency of Canada as Director, Consumer Education and Public Affairs, in early 2002 and, most recently, was Acting Deputy Commissioner. From 1996 to 2002, she was involved in the credit union system, including three years as Vice-President, Government Affairs, for Credit Union Central of Canada. Previously, Ms. Murray worked in the House of Commons with several Members of Parliament, including two years with the leader of a national political party. Ms. Murray has a combined degree in Political Science and History from Carleton University and a Master’s Degree in Public Administration from Queen’s University.
Jérémie Ryan
Jérémie Ryan has a well-rounded background for his position with the financial literacy program. After more than eight years’ experience in the financial industry, Mr. Ryan joined FCAC in 2004 as a compliance officer. In this capacity, he was responsible for ensuring the compliance of federally regulated financial institutions with federal consumer legislation, and managed a number of compliance projects for FCAC. Mr. Ryan has a Bachelor’s degree in Arts from the University of Ottawa, a degree in Administration and Finance from La Cité Collégiale and a Master’s Certificate in Project Management from Carleton University.
Caroline Cakebread
Caroline Cakebread is a consultant, writer and journalist. She has been involved with the media since 1998, when she developed and launched a series of national investor education programs for the Toronto Stock Exchange, which included extensive media coverage, the development of Web-based resources, and the creation of a number of events and partnerships across Canada. Recently, Ms. Cakebread authored a research report and a series of recommendations on a financial literacy and investor education strategy for the Investment Dealers Association Task Force to Modernize Securities Legislation in Canada. As editor of Canada’s pre-eminent pension finance journal, the Canadian Investment Review, Ms. Cakebread works closely with key members of the pension and benefits industry across Canada and around the world. She also continues to serve on the Association of Canadian Pension Management’s communications, education and media committees, helping the organization with its media and public education strategies. Ms. Cakebread received her M.A. and Ph.D. from the Shakespeare Institute, University of Birmingham (U.K.). She has taught both undergraduate and graduate students and has published numerous articles and essays on Shakespeare, education and women’s issues.
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