The International Organisation of Securities Commissions (IOSCO) yesterday published a final report on the Strategic Framework for Investor Education and Financial Literacy, which describes IOSCO’s role in promoting investor education and financial literacy and its strategic approach to both.
The strategic framework will guide the Committee on Retail Investors’ efforts in establishing investor education initiatives that produce meaningful results for investors.
IOSCO has long recognised investor education as a key strategy for enhancing investor protection, promoting investor confidence and fostering investor engagement in financial planning and decision-making. Investor education is complementary to the traditional tools of regulation, supervision and enforcement, and is recognised in IOSCO´s guiding principles for securities regulation.
IOSCO published a consultation report for comment in May 2014 and received 13 comment letters. “We thank the commenters for taking the time to provide insightful feedback on the report,” said Leonardo Pereira, chair of the Comissão de Valores Mobiliários of Brazil and vice chair of IOSCO’s Committee on Retail Investors.
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The Committee is appreciative of the input from commenters and will keep their suggestions in mind when considering future work programs and initiatives. All of the commenters were supportive of the Committee on Retail Investors and the strategic framework.
In addition, some commenters highlighted that partnerships between securities regulators and public, private, not-for-profit and community-based organisations may provide opportunities to maximise limited resources and leverage each other’s strengths.
