At CST we know that saving for your child’s education is an important step in investment planning. That’s why we take great care to ensure The Canadian Scholarship Trust Foundation has the highest standards of integrity.
Our high standards are built on strong business ethics, regulatory compliance, corporate governance and financial oversight. We are committed to transparent disclosure of all our investment practices and results. CST is continuously looking at and supportive of any action that will improve the reporting structure of our plans to plan holders.
All of these efforts ensure your interests are protected.
Our culture is that of transparency. If subscribers have any questions or concerns they would like to discuss with us, they are encouraged to contact us.
Our Business Ethics
The Foundation is unique in that it pursues both an important social mission and commercial activities to achieve our goals. We are a not-for-profit corporation. Every day, we live our mission "to advocate, develop, deliver and support solutions that will enable every Canadian resident to have sufficient financial resources to pursue post-secondary education."
The Canadian Scholarship Trust Foundation and C.S.T. Consultants Inc. (CSTC) are responsible to the public and must ensure their trust is maintained. We expect our officers and directors to adhere to a strict code of ethical behavior; both our own corporate Code of Conduct and an industry Code of Conduct.
While no written code of conduct can cover every situation, officers and directors must fulfill their responsibility of integrity and fairness by complying with both the spirit and the letter of the law governing public foundations.
The Foundation is one of Canada’s largest and most experienced group education savings plan providers. The Canadian Scholarship Trust Plans are distributed and managed by CSTC, a wholly-owned subsidiary of The Canadian Scholarship Trust Foundation.
CSTC is registered under the securities legislation in each province and territory as a scholarship plan dealer and as an investment fund manager in Ontario, Quebec and Newfoundland and Labrador.
CST has a highly experienced independent Board of Directors including leading experts in the legal, investment and financial community. The Board is responsible for the stewardship of the Foundation to ensure that (a) the Foundation’s mission is achieved, (b) strong governance structures exist and high quality processes are in place for the plans, funds and investments and (b) the activities and affairs of the CST Group are conducted in an ethical manner. View the responsibilities of the Board.
We have strong governance policies to provide a clear and transparent framework within which both the Board of Directors of the Foundation and our senior management operate. The objective of the Board and its committees is to ensure that, through the diligent application of these policies and guidelines, the Board and senior management work together effectively in the interests of the Foundation and its stakeholders. Each guideline sets out a statement of objectives, certain key principles, details of the intended implementation, and a statement as to who is accountable for adherence to the guideline.
We are responsible for entering into the Education Savings Plans with plan holders and providing governance oversight by supervising the administration of the Plans. The Plans are trusts for which RBC Investor Services Trust is the Trustee. The Trustee also acts as Custodian for the Plan assets. We direct the Trustee regarding the settlement of investment trades, the payment of fees, and Plan payments under the terms of the Education Savings Plan Agreements.
The investment performance of our Plans is monitored quarterly by management and the Investment Committee of the board of directors.
The auditor, Deloitte LLP, is responsible for auditing the financial statements of the Plans and expressing an opinion, based on their audits, as to whether the financial statements comply, in all material respects, and with Canadian generally accepted accounting principles. As part of their annual review, the auditor also reviews our system of those internal controls which are relevant to their review of the financial statements.