RESP plan provider USC Education Savings Plans Inc. (USC), says it is moving ahead with ambitious plans to continue helping Canadian families save for their children’s post-secondary education after an announcement today that the licensing restriction imposed by the Ontario Securities Commission last year has been lifted.

USC was one of six RESP companies affected by an industry audit that examined sales supervision practices, including compliance procedures, assessing customer suitability and sales materials.

“We have worked closely with our regulators to ensure that their concerns have been addressed quickly and completely,” said J.P. Trottier, USC’s vp of sales and marketing. “We’ve successfully addressed discrepancies the OSC identified in the structure and continuity of our sales force, and we’re now fully committed to our important work of making post-secondary education accessible to Canadians.”

USC has been distributing RESPs for 40 years and as at April 30, 2005 manages approximately $1.9 billion in assets for over 240,000 Canadian families. T

The company has over 700 licensed sales representatives across the country.

http://www.newswire.ca/en/releases/archive/June2005/07/c8853.html