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.
