Episode 396: Theresa Ebden - Protecting Investors at the OSC - Rational Reminder Recap

Podcast: Rational Reminder

Published: 2026-02-12

Duration: 1 hr 5 min

Guests: Theresa Ebden

Summary

Theresa Ebden of the Ontario Securities Commission discusses the modern risks investors face, including AI scams and finfluencers, and underscores the importance of education and regulatory measures to safeguard investors.

What Happened

Theresa Ebden, Vice President of the Investor Office at the Ontario Securities Commission (OSC), explains how the OSC protects investors through policy, education, and direct engagement. The OSC is an independent Crown agency focused on safeguarding Ontario's capital markets and fostering fair competition. Ebden highlights the OSC's proactive approach in identifying priority issues through inquiry data and global collaboration.

One of the key tools in investor education is GetSmarterAboutMoney.ca, a financial education website visited by nearly 5 million people last year. The site offers resources in 23 languages, demonstrating the OSC's commitment to accessible and comprehensive financial literacy.

AI-enhanced scams are a significant threat, with perpetrators using sophisticated techniques like deep fake voices to defraud investors. Ebden notes that these scams are particularly effective because AI can eliminate traditional red flags, making the scams appear more legitimate.

The rise of finfluencers, or financial influencers, poses another risk. These individuals, who may not always be registered financial advisors, can heavily influence retail investors, often leading them to make risky or unsuitable investment choices.

Regulatory challenges abound as the OSC works to oversee finfluencers and online financial content. The organization collaborates with international bodies and employs behavioral insights to better understand and mitigate these risks.

Gamification in investing apps is also scrutinized, as it can lead to increased trading activity and risk-taking. Ebden discusses the Get Smarter About Trading simulator, which uses gamification techniques to educate users about trading behavior, showing both the potential benefits and dangers of these features.

Key Insights

• GetSmarterAboutMoney.ca attracted nearly 5 million visitors last year? This financial education site offers resources in 23 languages, making it a powerhouse in boosting financial literacy for Ontario's diverse population. It's proof that when education is accessible, it becomes transformative.
• AI scams are getting freakishly good, using deep fake voices to snare investors in ways that feel eerily legitimate. The twist? These scams are so convincing because AI wipes out the usual red flags, meaning even the savviest of us can get duped.
• Finfluencers, the new social media darlings, wield massive influence despite lacking financial credentials. They often push retail investors into risky plays, showing how charisma can sometimes overshadow expertise in the digital age.
• Investing apps are turning trading into a game, complete with all the addictive thrills. But : the OSC's Get Smarter About Trading simulator uses the same tricks to teach users about risk, flipping gamification from vice to virtue.