IOSCO publishes strategic framework for Investor Education/Financial Literacy
The report describes IOSCO’s role in promoting investor education and financial literacy and its strategic approach to both.
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.
IOSCO published a consultation report for comment in May 2014 and received 13 comment letters. All of the commenters were supportive of the Committee on Retail Investors and the strategic framework.
“Investor education and financial literacy are a joint responsibility for investors, industry and regulators,” said Howard I. Wetston Q.C., Chair of the Ontario Securities Commission and Chair of the Committee. “We were pleased to receive support from industry as well as offers for collaboration and partnership. We hope that we continue to hear what industry and others are doing to help improve financial outcomes for investors and we will consider how we can continue to collaborate in the future."