We use data and applied research methods to enable evidence-based decision-making within the OSC.
And we identify and solve behavioural challenges through scientific insights and experimentation.
We use data and applied research methods to enable evidence-based decision-making within the OSC.
And we identify and solve behavioural challenges through scientific insights and experimentation
What are Behavioural Insights?
When making decisions, people can often be limited by their time, knowledge and willpower. To compensate for these limitations, people use shortcuts in their decision making which can lead to cognitive biases. Consequently, this can lead to people to do things that are not in their best interest.
Behavioural insights are a powerful set of tools that allow us to make appropriate and effective regulations and programs that reflect how people actually behave and process information. These regulations and programs are used to address issues in capital markets and improve outcomes for investors.
The use of behavioural insights in securities regulation and by other government and regulatory bodies has grown significantly in recent years.
At the OSC, the Investor Office Research and Behavioural Insights Team (IORBIT) is building the OSC’s behavioural insight capacity and identifying opportunities to use it in OSC policy development and operational processes.
What are Behavioural Insights?
When making decisions, people can often be limited by their time, knowledge and willpower. To compensate for these limitations, people use shortcuts in their decision making which can lead to cognitive biases. Consequently, this can lead to people to do things that are not in their best interest.
Behavioural insights are a powerful set of tools that allow us to make appropriate and effective regulations and programs that reflect how people actually behave and process information. These regulations and programs are used to address issues in capital markets and improve outcomes for investors.
The use of behavioural insights in securities regulation and by other government and regulatory bodies has grown significantly in recent years.
At the OSC, the Investor Office Research and Behavioural Insights Team (IORBIT) is building the OSC’s behavioural insight capacity and identifying opportunities to use it in OSC policy development and operational processes.
NOVEMBER 2022
Research Study: Gamification & Other Behavioural Techniques
OCTOBER 2022
Research Study: Crypto Assets 2022
This study examines Canadians’ crypto ownership and knowledge. It found 13% of Canadians currently own crypto assets or crypto funds. The study also found most Canadians did not have a working knowledge of the practical, legal and regulatory dimensions of crypto assets. Crypto assets were believed to play a key role in the financial system by 38% of those surveyed. The study provides a profile of crypto owners, their reasons for purchasing crypto assets or crypto funds, the role of financial advice, impact of advertising, and the experience of crypto owners with crypto trading platforms.
SEPTEMBER 2022
Investors vs. Savers: Attitudes Towards Investing
This study compares the attitudes and beliefs of investors versus savers about our capital markets. It was conducted from January 17 to February 9, 2021 — an interesting time as the GameStop saga began midway through our data collection. The study found significant differences between investors and savers in four thematic areas: wealth creation, fairness of capital markets, effectiveness of regulation, and the economic importance of capital markets.
SEPTEMBER 2022
Investor Knowledge Study
This study assesses the financial knowledge of retail investors across five areas that are of importance when making investment decisions. The survey includes the widely-used financial knowledge questions currently used across Organization for Economic Co-operation and Development (OECD) jurisdictions. On average, investors answered 53% of the questions correctly. The study found that investors have the least knowledge when it comes to investment costs and investor protections. 29% of Canadian investors are overconfident in their financial knowledge, however, completing the survey questions was an effective way to reduce overconfidence in some investors through debiasing.
APRIL 2021
Self-Directed Investors: Insights & Experiences
More DIY, or self-directed, retail investors became active during the pandemic according to our study. It found 10% of self-directed investors opened their account during the pandemic. The information sources they relied on most to make investment decisions included their own personal views about company based on their personal experiences with its products and services; and posts on social media and online message boards such as Reddit, Twitter and Facebook.
Latest Research
APRIL 2021
Investor Experience
Nearly half of investors reported increased levels of stress during the COVID pandemic, according to the Investor Experience Research Study. It found most of these investors communicated with their advisors and some sold more than 20% of their portfolios during the pandemic.
Latest Research
NOVEMBER 2022
Research Report: Gamifcation & Other Behavioural Techniques
OCTOBER 2022
Research Study: Crypto Assets 2022
This study examines Canadians’ crypto ownership and knowledge. It found 13% of Canadians currently own crypto assets or crypto funds. The study also found most Canadians did not have a working knowledge of the practical, legal and regulatory dimensions of crypto assets. Crypto assets were believed to play a key role in the financial system by 38% of those surveyed. The study provides a profile of crypto owners, their reasons for purchasing crypto assets or crypto funds, the role of financial advice, impact of advertising, and the experience of crypto owners with crypto trading platforms.
SEPTEMBER 2022
Investors vs. Savers: Attitudes Towards Investing
This study compares the attitudes and beliefs of investors versus savers about our capital markets. It was conducted from January 17 to February 9, 2021 — an interesting time as the GameStop saga began midway through our data collection. The study found significant differences between investors and savers in four thematic areas: wealth creation, fairness of capital markets, effectiveness of regulation, and the economic importance of capital markets.
SEPTEMBER 2022
Investor Knowledge Study
This study assesses the financial knowledge of retail investors across five areas that are of importance when making investment decisions. The survey includes the widely-used financial knowledge questions currently used across Organization for Economic Co-operation and Development (OECD) jurisdictions. On average, investors answered 53% of the questions correctly. The study found that investors have the least knowledge when it comes to investment costs and investor protections. 29% of Canadian investors are overconfident in their financial knowledge, however, completing the survey questions was an effective way to reduce overconfidence in some investors through debiasing.
APRIL 2021
Self-Directed Investors: Insights & Experiences
More DIY, or self-directed, retail investors became active during the pandemic according to our study. It found 10% of self-directed investors opened their account during the pandemic. The information sources they relied on most to make investment decisions included their own personal views about company based on their personal experiences with its products and services; and posts on social media and online message boards such as Reddit, Twitter and Facebook.
APRIL 2021
Investor Experience
Nearly half of investors reported increased levels of stress during the COVID pandemic, according to the Investor Experience Research Study. It found most of these investors communicated with their advisors and some sold more than 20% of their portfolios during the pandemic.
Meera Paleja
Program Head, Research and Behavioural Science
