Industry News

The IEF is divesting itself of school-based financial literacy assets ahead of pending integration with the OSC’s Office of the Investor

By James Langton |

The Investor Education Fund (IEF), a non-profit organization founded and supported by the Ontario Securities Commission (OSC), is looking to divest its assets that deliver financial literacy education through schools.

The IEF said Friday it is seeking organizations interested in acquiring its "school-based education assets". The assets in question include: a website that features online tools and lesson plans that help teachers begin integrating financial education into their classes; professional development programming; and, its "Funny Money for High Schools Assembly Program".

The fund, which is in the process of being brought in-house by the OSC and rolled into its Office of the Investor, says that it is looking to transfer the assets to "an organization that will commit to continue use of the tools to advance financial literacy among youth, with the support of teachers and parents involved in shaping school curricula."

The potential acquirer may be from the private, non-profit, or public sector, the announcement says, and "must have a genuine commitment to supporting financial education for Canadian students." The IEF is seeking initial expressions of interest by Feb. 20.

The IEF indicates that it is looking to divest itself of these assets in light of its pending integration with the OSC's Office of the Investor — which is slated to take effect April 1 — forming its new Office of Investor Policy, Education and Outreach.

"As part of IEF's new role within the OSC, our focus will be on building the OSC's engagement with investors and better understanding their needs," says Tom Hamza, president of IEF. "We're proud of the work we've done to advance the financial literacy of young Canadians, and hope to find an acquiring organization that will continue this legacy."