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Exhibit 31.2

CERTIFICATION

I, Susan Lovell, certify that:

I have reviewed this Annual Report on Form 10-KSB of Stockgroup
  Information Systems Inc.;

Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial
  information included in this report, fairly present in all material respects
  the financial condition, results of operations and cash flows of the small business
  issuer as of, and for, the periods presented in this report;

The small business issuer's other certifying officer and I are
  responsible for establishing and maintaining disclosure controls and procedures
  (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control
  over financial reporting (as defined in the Exchange Act Rule 13a-15(f) and
  15d-15(f)) for the small business issuer and have:

a) designed such disclosure controls
  and procedures, or caused such disclosure controls and procedures to be designed
  under our supervision, to ensure that material information relating to the small
  business issuer, including its consolidated subsidiaries, is made known to us
  by others within those entities, particularly during the period in which this
  report is being prepared;

b) designed such internal control over
financial reporting, or caused such internal control over financial reporting to
be designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financials statements
for external purposes in accordance with generally accepted accounting
principles;

c) evaluated the effectiveness of the
  small business issuer's disclosure controls and procedures and presented in
  this report our conclusions about the effectiveness of the disclosure controls
  and procedures, as of the end of the period covered by this report based on
  such evaluation; and

d) disclosed in this report any change
  in the small business issuer's internal control over financial reporting that
  occurred during the small business issuer's most recent fiscal quarter that
  has materially affected, or is reasonably likely to materially affect, the small
  business issuer's internal control over financial reporting; and

The small business issuer's other certifying officer and I have
  disclosed, based on our most recent evaluation of internal control over financial
  reporting, to the small business issuer 's auditors and the audit committee
  of the small business issuer's board of directors:

a) all significant deficiencies and material
  weaknesses in the design or operation of internal controls over financial reporting
  which are reasonably likely to adversely affect the small business issuer's
  ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material,
  that involves management or other employees who have a significant role in the
  small business issuer's internal controls over financial reporting.

/s/ Susan Lovell Susan Lovell Chief Financial
Officer

Date: April 1, 2008

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