17
MAY
2013

Financial Literacy Leader Act receives Royal Assent

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Bill C-28, the Financial Literacy Leader Act, which provides for the appointment of a Financial Literacy Leader within the Financial Consumer Agency of Canada, received Royal Assent on March 27. This appointment will deliver on a Budget 2011 commitment and responds to the top recommendation of the Task Force on Financial Literacy, which published its final report in February 2011. The Financial Literacy Leader’s mandate will be to collaborate and coordinate activities with stakeholders to contribute and support initiatives to strengthen the financial literacy of Canadians. The Government has indicated that it will begin recruiting the Financial Literacy Leader in the coming weeks.

About the Author
Libby Gillman is, by training, an experienced corporate and commercial lawyer with particular expertise in financial institution incorporation and regulation, banking law and regulation, sophisticated and innovative payment systems, electronic banking products, emerging technology-based financial and other products and services, electronic commerce including Internet law, and legal issues of privacy and security on the Internet.