Securities Commission participates in national essay contest

Walter Noel, minister responsible for the Securities Commission of Newfoundland and Labrador, today announced the province�s participation in the launch of a national essay contest for youth aged 14 to 18 years.

The contest is being run by Canadian Securities Administrators (CSA), the umbrella organization of the 13 provincial and territorial securities regulators in Canada, to raise awareness of investing concepts. The goal is to encourage young Canadians to learn more about investing. The contest runs until January 31, 2003.

To participate, young people must submit, in English or French, an essay which answers the following question: If you win the contest prize of $2,500 and decide to invest, which financial products might interest you most and why? Contestants are also asked to give their views on whether it is important for young Canadians to learn about investing at an early age.

A total of 13 provincial prizes of $750 each and a national grand prize of $2,500 will be awarded next April during Investor Education Month.

Minister Noel said: "Financial literacy is essential and young people need to know about different investment products to make well-informed, educated decisions about their financial future."

Full details about the contest and the entry forms can be found at: www.gov.nl.ca/gsl/cca/s/

Media contact: Susan Powell, Securities Commission of Newfoundland and Labrador, (709) 729-4875 or Rick Callahan, Director of Communications, (709) 729-4860

2002 10 29                                       1:45 p.m.