News Release Communiqué |
The Manitoba Securities Commission
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Commission des valeurs mobilières du Manitoba
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FOR IMMEDIATE RELEASE February 18, 2002
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1130-405 Broadway Winnipeg, MB R3C 3L6 |
INVESTOR EDUCATION MAJOR GOAL OF MANITOBA SECURITIES COMMISSION
Important new findings to guide Securities Commissions educational programming
Winnipeg A new survey for the Manitoba Securities Commission provides a clear picture of the publics educational needs and gives the organization a benchmark for future efforts."In order to offer investing education programs to the public, we need to know what their needs are. Through this study, we have established what information Manitobans are looking for," said Don Murray, Chair of the Manitoba Securities Commission. Major findings will be used to guide educational programming over the next few years. " We will be able to look at where we were and where we are," said Murray.
The Securities Commission recently completed a survey of Manitoba consumers' awareness of the Commission, perceptions of the role of the Commission, evaluation of current programming and identify the publics information needs for future programs.
With 70% of Manitobans currently holding investments, it is clear that it is necessary for the Commission to play a role in consumer education. "We must step up our efforts to make the Manitoba Securities Commission a household name. Investors need to know that we are here to protect them and provide them with investing information," said Murray. According to the survey, the Commission is currently offering information that is in line with what consumers want. But there is room for improvement. "We have to do a better job of getting the information to specific demographic groups identified in the study such as women, low-income families, groups for whom English is a second language and individuals in particular regions of the province.
Further findings indicate that the public feels that it is extremely important for children to receive saving and investing education. "If children start to learn the basics when they are young, they will know how to handle their finances when they start to receive a paycheque," Murray said. The Commission is currently looking at ways to get investing information out to young Manitobans. "Programming has come a long way since the Education department began two years ago. We do however, recognize that there is room for continued growth," Murray said.
Acumen Research Inc. conducted the random sampling of 602 Manitoba residents in October 2001. Results are considered accurate to within ±4.0%, 19 times out of 20. Where the results apply only to investors, they are accurate to within ±4.8%, 19 times out of 20. For additional information contact:
Ainsley Cunningham, Education and Information Coordinator
The Manitoba Securities Commission
Phone: (204) 945-4733
E-mail: aicunningh@gov.mb.ca
Press Release Backrounder
Current Investors
Awareness of the Commission
The survey identified that awareness of the Commission was strongly influenced by demographics. The following individuals were least likely to have heard of the Commission:
Gender |
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Income |
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Employment |
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Age |
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Education |
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Mother tongue |
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Region |
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In addition, individuals who are investment savvy are more likely to have heard of the Commission than those who are not.
Perceptions of The Manitoba Securities Commission
Respondents who claimed to have heard of the Commission prior to this study were asked to describe what they perceive the purpose of the Commission to be. Of this group, 75% offered a response and 26% refused to answer. Responses are as follows:
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40% |
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30% |
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20% |
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12% |
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9% |
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9% |
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1% |
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1% |
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1% |
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4% |
Importance of the role of The Manitoba Securities Commission
Several statements were posed to the respondents concerning their opinion of the importance of various aspects of the Commission's work. A five point scale was used to evaluate the responses, one being not at all important and five being extremely important
The first role that was explored was the concept of investor protection. "The primary goal of The Manitoba Securities Commission is investor protection. In your opinion, how important is it for there to be a Commission that plays this role?" Using the five-point scale respondents' average rating of this role was 4.34.
When questioned about the importance of the Commission's role in providing educational information, "How important do you believe it is for the Commission to offer educational information to Manitoba investors?" Using the same five-point scale, respondents overall average rating was 4.25.
The final question asked of respondents concerned the importance of public school-based financial education. "How important do you believe it is for children to receive financial education, such as how to save money, what are investments, etc., in the public school system?" In this instance, using the same five-point scale, the average rating was 4.45.
Consumer Information Needs
The research conducted in the area of information needs focused on both testing of current programs offered by the Commission and respondent suggestions for future programming.
Perception of Importance of Current Programming
A number of information topics, most based on types of educational information already offered by the Commission, were tested with respondents to determine perceptions of their importance. Respondents were asked to rate each topic on a scale of 1 to 5, where 1 represents not at all important and 5 represents extremely important. Current programs ranked by importance are as follows:
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4.52 |
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4.03 |
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4.02 |
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3.88 |
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3.86 |
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3.64 |
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2.62 |
Respondent Suggestions for Future Programming
All respondents were asked to suggest any other information that they would like to see provided by the Commission. In all, 27% of respondents offered one or more suggestions. The following are respondent suggestions:
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25% |
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12% |
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9% |
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8% |
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7% |
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7 |
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6 |
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6 |
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4 |
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4 |
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3 |
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3 |
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2 |
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2 |
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14 |
Summary of Findings
The findings from this research will be used to improve on current programs and plan new programs within the education department of the Manitoba Securities Commission.