Securities regulators on six continents joined forces at World Investor Week, taking place from Oct. 2-8 to educate investors and help them avoid fraud.
World Investor Week is promoted by the International Organization of Securities Commissions (IOSCO).
Securities and Exchange Commission staff, for instance, are participating in events around the country to education investors on using Investor.gov; performing a background check on an investment professional; conducting research on products before investing; and avoiding fraud.
The SEC’s Office of Investor Education and Advocacy also issued a joint investor bulletin with the Commodity Futures Trading Commission, the Financial Industry Regulatory Authority and the North American Securities Administrators Association to promote key investor protection messages.
“I see firsthand the positive impact of our investor education efforts, whether it’s our outreach team conducting in-person events, online resources on Investor.gov and public service campaigns or our assistance team that handles investor complaints and solves problems on a daily basis,” said Lori Schock, director of the SEC’s Office of Investor Education and Advocacy, in a statement. “This week-long global effort reinforces the importance of what we and others do every day on behalf of America’s investors.”
The FINRA Foundation’s most recent National Financial Capability Study found that only 37% of Americans are considered to have high financial literacy, based on the fact that they could answer four or more questions on a five-question financial literacy quiz — down from 39% in 2012 and 42% in 2009.
The survey also indicated that while the financial capability of many Americans is improving, making ends meet remains a daily struggle for millions — particularly women, millennials, African-Americans, Hispanics and those lacking a high school education.