(February 15 – 17:20 ET) – The British Columbia Securities Commission is giving a $45,000 grant to the Seniors’ Foundation of B.C. to help show senior citizens how to avoid investment scams and protect their finances.

The grant will be used to help develop a series of BCSC seminars on avoiding investment scams, a financial information brochure, and enhancements to the Seniors’ Foundation website to provide information on how to avoid inappropriate investments and frauds..

“As the watchdog for B.C.’s investment industry, we often find cases where the elderly have lost substantial amounts of money to investment con men,” said Steve Wilson, BCSC executive director. “The programs proposed by the Seniors’ Foundation will help give seniors the knowledge and tools to protect themselves from financial predators.”

The grant comes from the BCSC’s Education Fund, which is made up of monies collected from administrative penalties the commission assess against parties that contravene the Securities Act. The fund currently holds $2.4 million.

“Our members are very interested in financial and investment matters,” said Georgiana Evans, Seniors’ Foundation executive director. “This grant from the BCSC will greatly assist us in delivering much-needed programs and information across B.C.”
-IE Staff