Financial and Investor Education Programs: By Country and Type of Program

 

Country

Programs

Argentina Programs for Individual Investors
Australia National Strategy for Financial Literacy
Programs by Governments
Programs by Government Regulator
Programs for Individual Investors
Brazil Programs by Government Regulator
Programs for Individual Investors
Information for Individual Investors on Foreign Exchange (FOREX)
Canada Programs by Government Regulators
Programs for Children and Young Adults
Special Focus Programs
Information for Individual Investors on Foreign Exchange (FOREX)
Channel Islands, Jersey Programs by Government Regulators
France Program by Government Regulator
Programs for Individual Investors
Information for Individual Investors on Foreign Exchange (FOREX)
Germany Programs for Individual Investors
Hong Kong Information for Individual Investors on Foreign Exchange (FOREX)
India Programs for Individual Investors
Japan Program by Government Regulator
Programs for Individual Investors
Special Focus Programs
South Korea Programs for Children and Young Adults
Programs for Individual Investors
Special Focus Programs
Sweden Programs for Individual Investors
Special Focus Programs
United Kingdom National Strategy for Financial Capability
Programs by Governments
Programs for Children/Young Adults
Programs for Individual Investors
Special Focus Programs
United States National Strategy for Financial Literacy
Programs by Governments
Programs by Government Regulators
Programs for Children/Young Adults
Programs for Individual Investors
Special Focus Programs
Information Related to Scams, Frauds, Investor Alerts
Information for Individual Investors on Foreign Exchange (FOREX)
Multilateral Organizations Information for Individual Investors on Foreign Exchange (FOREX)


Argentina—Programs for Individual Investors

Bolsa de Comercio de Buenos Aires (BCBA)
Through the BCBA Foundation, the stock exchange offers an introductory course to the general public (Curso para inversores bursátiles). The free course, which is offered over a four-week period once a year, covers the capital market, financial instruments, regulation and portfolio management. In conjunction with El Colegio de Graduados en Ciencias Económicas, the Bolsa offers more advanced courses intended for individuals interested in working in the financial sector. The Bolsa's Web site is found at: www.bcba.sba.com.ar/.

National Securities Commission)/Comisión Nacional de Valores (CNV)
The Investor Protection and Financial Education Division/Subgerencia de Protección al Inversor y Educación Financiera assists the CNV in executing its responsibility for investor protection, working towards an ethical and sustainable growth of the Capital Markets via the Financial Education. The Division is concerned primarily with promoting the Financial Education, and as part of a National Strategy it is developing a Strategic Plan for Financial Education and proposing the creation of a legal institution to strengthen the plan.

Individuals with robust financial awareness have positive effects on investment levels; leading to economic growth, therefore creating jobs and improving the standard of living. To this end, the Commission and major market participants (from both public and private sector, including universities), work together in this Plan sharing their knowledge in order to achieve a more efficient, organized and transparent Capital Market. The Division has developed a dashboard to track whether the plan is achieving its medium and long term aims. The Division also provides guidance and counseling through the Investor´s Assistance Office. Furthermore, the Division is improving the investor´s web page, covering issues such as credit, risk management, investment and retirement saving.


Australia—National Strategy for Financial Literacy

The Australian government established the Financial Literacy Foundation in mid-2005, with the objective of implementing a national strategy intended to provide a framework within which financial literacy initiatives in Australia could function more effectively. The specific objectives of the Foundation are:

  1. The adoption and integration of consumer and financial literacy into the school curriculum, starting at primary school and including the professional development of teachers in teaching consumer and financial education;
  2. The adoption and integration of consumer and financial literacy into the workplace through vocational education programs and employer information channels;
  3. Commissioning and conducting an ongoing national research program on the factors leading to key consumer and financial decision-making;
  4. Providing a clearinghouse Web site to assist consumers and consumer intermediaries with better access to existing information;
  5. Facilitating collaboration between organizations that might benefit from each other's expertise with the objective of reducing duplication and inconsistency across existing initiatives and programs. The Foundation will also work with public, private and community organizations to ensure that there is a collaborative approach to advancing and coordinating financial literacy initiatives; and,
  6. Facilitating an ongoing social marketing campaign to embed a key consumer financial literacy message within the Australian culture (the financial equivalent of 'don't drink and drive') and providing best practice guidance to organizations regarding effective education approaches to key consumer issues based on research and policy expertise.

The Financial Literacy Foundation has already established a Financial Literacy Educators and Trainers Network that will assist educators, human resource professionals, and resource developers to provide quality financial literacy education and training. In addition, the Foundation is working collaboratively with states and territories to develop a National Curriculum Framework for consumer and financial literacy for young people which would provide nationally agreed upon, multi-disciplinary benchmarks and guidance for teaching financial literacy. The Web site for the Financial Literacy Foundation is found at: www.moneysmart.gov.au/.

 

Australia—Programs by Governments

Centrelink
Centrelink is a government agency delivering a range of Commonwealth services to the Australian community. They offer free and independent financial information including confidential interviews with Financial Information Service Officers where the client may discuss financial issues and options as well as financial seminars and workshops. Centrelink also offers information on financial markets and products on its Web site, which can be found at: www.centrelink.gov.au.

 

Australia—Programs by Government Regulators

Australian Securities and Investment Commission (ASIC)
Initiated in 2001, ASIC's consumer education strategy is focused on helping consumers actively look after their money and their financial futures. ASIC's consumer education campaign intensified in mid-2003 after the release of a national survey by ANZ Bank, which found that Australians lacked knowledge in areas such as investment, superannuation and retirement planning, despite having good basic financial skills. ASIC has a dedicated consumer Web site which provides information about financial products and services and information on how to avoid scams and swindles. ASIC, which provides an outline of their consumer education strategy on their Web site, also communicates directly with consumers through investor forums across the country. ASIC's dedicated consumer Web site can be found at: www.moneysmart.gov.au/.

Australian Investors Association (AIA)
The Australian Investors' Association was formed in 1991 by a small group of investors who recognized there was a need for an organization that could represent the interests of private investors across the broad spectrum of investment products available in the retail market. The Association offers investor education to individuals in a variety of ways, including meetings, seminar and its Web site. AIA's Web site can be found at: www.investors.asn.au.

Australian Shareholders Association (ASA)
The Australian Shareholders' Association was established as a not-for-profit organization in 1960 to protect and advance the interests of investors. In that capacity, ASA liaises extensively with other bodies such as regulators, lawmakers, industry groups and accounting bodies. The ASA represents its members' views on a number of accounting and financial industry bodies. In addition, ASA holds regular members' meetings all across the country and conducts adult education workshops aimed at improving members' financial literacy. ASA's Web site is found at: www.asa.asn.au/.

Australian Stock Exchange (ASX)
The Australian Stock Exchange (ASX), which with its predecessor state exchanges has been the longest running provider of accessible public education in Australia's sharemarket, offers an extremely comprehensive investor education program. This program includes free on-line classes for investors with varying levels of sophistication, one-day forums for active investors held in various locations, and a two-day Traders and Investors Expo and three-day Investment Expos that are also held in various locations. In addition to these intensive programs, ASX's Web site provides information about beginning and running investment clubs, has games that allow individuals to experience virtual investment in stocks actually listed on the exchange, and provides resources designed to help educators teach the basics of share investment in a fun and innovative manner. In conjunction with the Australian Shareholders' Association (ASA) and the Securities Derivatives Industry Association (SDIA), ASX also offers a monthly lunchtime seminar series with lectures presented by experienced speakers from the broking and finance industries intended to help investors stay up-to-date with issues and trends in the financial market. Finally, ASX provides an extensive amount of educational materials, including pamphlets and audiovisual presentations, all of which can be downloaded from their Web site. ASX's Web site can be found at: www.asx.com.au.

Investors Education Association (IEA)
The Investor Education Association is an independent educational organization dedicated to providing Australians with the skills and knowledge necessary to successfully manage their personal finances and achieve their financial goals and objectives. IEA conducts workshops and seminars on a wide range of personal financial planning topics. The Association's Web site can be found at: www.moneysmart.gov.au/.

National Information Centre on Retirement Investments (NICRI)
NICRI is a free, independent, confidential service that aims to improve the level and quality of investment information provided to people with modest savings who are investing for retirement or facing redundancy. NICRI offers a range of leaflets that general information about financial markets as well as information about financial planning and investment products. NICRI's Web site can be found at: www.nicri.org.au.

Proshare Investment Clubs
Dedicated to helping consumers to become more informed about their investment decisions, Proshare provides extensive information about beginning and running an investment club, offers a message board on their Web site for individuals that thinking about starting or already running investment clubs and also provides information on an individual basis. Their Web site is at: www.proshareclubs.co.uk/cgi-bin/proshareclubs/home/home.cgi.


Brazil— Programs by Government Regulators

Comissião de Valores Mobiliários (CVM)
The CVM has set up an Investor Education and Assistance Program that holds town meetings for the general public around the country in places like São Paulo, Brasília, and Fortaleza. The program also produces brochures, booklets, investment guides, and has a toll-free number, among other resources available for the individual investor. The CVMs Web site can be found at: www.cvm.gov.br/ingl/indexing.asp.

Brazil— Programs for Individual Investors

Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais (ANBIMA)
Anbima's financial education website (www.comoinvestir.com.br) is designed to highlight the importance of financial planning and the benefits accruing from long-term investments. The site mission is to become a benchmark by offering the best and the most comprehensive didactic information on the various investment alternatives, such as mutual funds, equities, debentures and private and public bonds as well as serving the needs of investors through content, services and e-learning tools. Besides the site has one section to help ordinary people and families to prepare a house budgeting and to disseminate knowledge of the mechanisms to be used in personal investments.

Brazil— Information for Individual Investors on Foreign Exchange (FOREX)

CVM-Securities and Exchange Commission of Brazil
http://www.cvm.gov.br/port/taxas/mercadoForex.pdf
There are no brokers/dealers authorized by the CVM to offer FOREX contracts to Brazilians. FOREX is not a regulated product in Brazil at this time. CVM has been working in the Brazilian capital markets to raise awareness among individual investors about the market and legal risks involved. This guide was published in 2008. Web site is at: www.cvm.gov.br


Canada—Programs by Government Regulators

Canadian Securities Administrators (CSA)
Securities regulators from each province and territory have teamed up to form the Canadian Securities Administrators, or CSA for short. The CSA is primarily responsible for developing a harmonized approach to securities regulation across the country. One of CSA's objectives is to protect investors from fraudulent, manipulative or misleading practices.

CSA's members achieve this by:

  • mandating full disclosure of information material to investment decisions
  • educating investors about the risks and responsibilities of investing
  • authorizing persons who provide investment services to the public and
  • supervising market intermediaries.

The CSA's Investor Education Committee has conducted national surveys and developed a number of educational resources aimed at helping investors. You can access these documents (English and French) at www.securities-administrators.ca/investortools.aspx?id=82&linkidentifier=id&itemid=82.

 

The Alberta Securities Commission
The Alberta Securities Commission (ASC) is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. The ASC website, www.albertasecurities.com, has tools and tips to help investors learn to Check First and ask the right investing questions before making an investment decision. The For Investors section offers helpful brochures and reading materials, an investor blog, a section on common investment scams, as well as guidelines for conducting a background check on an investment opportunity.

The Manitoba Securities Commission
The Manitoba Securities Commission strives to develop and offer public education, to provide information about potentially illegal activity, to help members of the public understand investing and market issues and to be able to make informed investment decisions. The Commission's web site at www.msc.gov.mb.ca has a variety of resources that help to achieve these goals. "Fact or Fraud" is a comprehensive section that provides investors with information that will assist in protecting them against falling victim to investment fraud. In addition the MSC has recently launched "Make it Count: A Parent's Guide to Youth Money Management," an interactive program that provides activities and tips for parents using everyday situations like errands as the basis for common sense discussions about youth money management. Visit Make it Count at www.makeitcountonline.ca.

The British Columbia Securities Commission
The BC Securities Commission conducts investor education under the InvestRight umbrella. InvestRight features tools, information, and a blog to help investors avoid and report investment fraud and assess investment opportunities. Partners as diverse as the God's Fraud Squad and the Canadian Conference of Mennonite Brethren, the credit union-based CUSOURCE Knowledge Network, and enforcement agencies such as the RCMP and Vancouver Police Department, enable the BCSC to plant investor caution and education messages deep in the community. In a joint initiative with the Financial Consumer Agency of Canada (FCAC), the BCSC recently launched a unique, web-based youth education program called The City / La Zone. This bilingual financial literacy program is modelled on the BCSC's award-winning resource for grade 10 students in BC.

Autorité des marchés financiers (Québec)
The Autorité des marchés financiers (AMF) supervises Québec's financial sector and provides assistance to consumers of financial products and services. It protects consumers by enforcing the statutes and regulations governing the following areas of activity: insurance, securities, deposit institutions (other than federally chartered banks) and distribution of financial products and services. The AMF responds to information requests, receives consumer complaints concerning financial sector participants, and can either recommend services for examining complaints and resolving disputes or pay compensation directly to the consumer, if applicable. It also disseminates consumer education programs on financial products and services in co-operation with consumer protection organizations. Read, learn and play while learning on Investments, Retirement, Insurance or Fraud Prevention at www.lautorite.qc.ca/clientele/consommateur.en.html. Visit our Youth Web site It's Your Money at tesaffaires.com/index.php/en/.

Ontario Securities Commission (OSC)
The OSC provides resources and programs to help retail investors understand risk and make informed investment decisions, as part of its investor protection mandate. The OSC website www.osc.gov.on.ca hosts investor information with a focus on informed investing and fraud prevention. The OSC also established the Investor Education Fund, an unbiased, non-profit source of information and tools that help consumers make better decisions when investing and managing their money. The Fund's website www.getsmarteraboutmoney.ca/en/Pages/default.aspx has information on investing basics, the adviser relationship, securities, and investment strategy, as well as interactive tools to help investors test their knowledge, and curriculum tools for teachers to help them integrate financial literacy into the classroom.

Nova Scotia Securities Commission
Nova Scotia launched a new investor focused website: www.beforeyouinvest.ca. The main feature of the site is the Before You Invest blog, intended to be updated 2-3 times a week once fully launched. NSSC has also incorporated much of the information from our brochures and previous site under 5 headings: Investing Basics, Invest Wisely, Choosing an Advisor, Fraud, and Getting Help. More content may be added in the future, based on feedback and demand. NSSC has worked hard to make the site easy to read and easy to navigate and looks forward to your comments. While the site was originally meant to launch in March for Fraud Prevention Month, technical difficulties delayed this significantly, and is now intended for; later in 2009. In the meantime, the site is live, but not advertised.

New Brunswick Securities Commission
Invest in Knowing More (IKM) is the New Brunswick Securities Commission's (NBSC) public awareness campaign that has run since 2006. It creates awareness of the seriousness and reality of investment fraud in New Brunswick and helps to influence reporting behaviour by encouraging investors to report suspected investment fraud to NBSC.

In April 2008, the NBSC commissioned a survey to evaluate the recall of our January to March 2008 IKM campaign. Overall awareness was 61%. This data was used when assessing how best to meet objectives when developing our 2009 Invest in Knowing More message.

Advertisements that ran during January and February 2009 were themed around the tagline "answering the telephone could cost you your life savings…calling us could save it - the New Brunswick Securities Commission." Television commercials, billboards, transit shelters, internet advertisements and print advertisements in major New Brunswick newspapers were part of the campaign. The commercial demonstrated the reality that often fraud is perpetrated over a series of calls after building a level of trust with the fraud victim.

The strong messaging of the 2009 IKM campaign was also used during Fraud Prevention Month to reinforce to the investing public that fraud exists, and that NBSC is the place to call should any suspicious investment related activity take place. Activities included direct mail, public service announcements in print and on television and radio, and outreach to post-secondary education and public libraries. The television advertisements were shown in Moncton area movie theatres and the print advertisement was used as a transit shelter ad and shown in movie theatres in Saint John. Direct mail had significant reach with delivery of bilingual post cards showing the print advertisement to 110,000 households in New Brunswick.

 

Canada—Programs for Children and Young Adults

CSI Global Education, Inc.

CSI Global Education Inc. (CSI), Canada's leader in professional financial services education has partnered with Junior Achievement of Central Ontario to bring financial literacy to grade seven students.

Junior Achievement's "Dollars with Sense" financial literacy program is being delivered by Fellows of CSI in collaboration with the teachers to Grade 7 students across Ontario. The program will be rolled out nationally in late 2009. Using interactive games, workbooks and tools from the program, each of these financial professionals bring their real world experience, knowledge and investment know-how to classrooms to help educate students about future career possibilities, money management, investment choices and the importance of setting goals and planning. Developed by Junior Achievement, the "Dollars with Sense" one-day sessions cover everything from the origins of trade to the ins and outs of investing. It is designed to help elementary students grasp economic and business concepts as well as develop their personal finance knowledge. A key component of the program is the practical experience the volunteer instructors bring to the classroom.

The CSI volunteers all hold the Fellow of CSI (FSCI) designation, recognized as the highest honour in the financial services industry. It is awarded to industry professionals who bring an exceptional combination of advanced education, ethical training and experience to their business.

More than 1000 students have benefited from the expertise these volunteers brought into their classrooms, and now each of those students has increased financial literacy and greater confidence in managing their money today and into the future.CSI has been piloting the program in Central Ontario with the hopes to expand the program nationally in 2010.

For more information visit http://www.fcsi.ca/financial_professionals/news/JA_news.html.

Canadian Securities Administrators

Manitoba Securities Commission : Make It Count Program

Québec, Autorité des marchés financiers : It's Your Money / Tes Affaires

British Columbia Securities Commission : Planning 10 Program

Alberta Securities Commission : Teaching the Facts of Life about Money Program

Ontario Investor Education Fund

 

Canada—Special Focus Programs

Alberta Capital Markets Foundation
The Alberta Capital Market Foundation was established in November 1998 with funding from the Alberta Securities Commission and The Alberta Stock Exchange (now the TSX Venture Exchange). The Foundation does not conduct active operations as an educator but instead funds specific projects intended to educate the public and entrepreneurs about the functions, operations, benefits and risks associated with capital markets. The Foundation's Web site is at: www.acmfoundation.org.

Council for Investor Education (CIE)
The Council for Investor Education is a forum composed of industry organizations and securities regulators interested in empowering Canadians with the knowledge to make informed financial decisions. The members of the Council for Investor Education shares, coordinates, and promotes ideas and initiatives that facilitate the best and most efficient use of its collective expertise. The Council does not yet have its own Web site.

Canada—Information for Individual Investors on Foreign Exchange (FOREX)


Channel Islands, Jersey—Programs by Government Regulators

Jersey Financial Services Commission (JFSC)
Protect Your Money is a new consumer education initiative from the Jersey Financial Services Commission. The aim of this website is to provide consumers with clear, impartial information and guidance in relation to financial products, so that they can have greater control of their financial affairs and the confidence to make informed decisions when choosing such products. The JFSC Protect Your Money website can be found at www.protectyourmoney.je/Pages/homepage.aspx.


France—Programs by Government Regulators

Autorité des marchés financiers (AMF)
Working in partnership with private sector representatives of the securities industry, the Autorité des marchés financiers (AMF)—the regulator of France's securities market—is establishing a national institute for investor education that will (1) provide consumers with information about financial markets and products on a very broad basis; (2) set standards for private sector providers of financial education and evaluate private sector providers of investor education on the basis of those standards; and (3) promote research and international cooperation on financial education for French consumers. The institute may also offer classes when a demand exists that private sector providers of investor education are not able to satisfy. In addition to the national institute, the AMF publishes a wide variety of pamphlets and other educational materials for consumers interested in investing in France's securities market. The AMF's Web site can be found at: www.amf-france.org.

 

France—Programs for Individual Investors

Ecole de la Bourse
Sponsored in part by Euronext, this private school was established in 1997 to provide training seminars for retail investors in 50 different cities throughout the country as well as online information about investing, financial markets and financial instruments. Listed firms in France also offer classes to their shareholders using the Ecole de la Bourse's facilities and training materials. The Ecole de la Bourse also offers individualized courses covering economics and investment topics at workplaces and other locations. The Web site for the school can be found at: www.ecolebourse.com

Fédération Française des Clubs d'Investissements (FFCI)
FFCI sponsors investment clubs throughout France. FFSI's Web site can be found at: www.clubinvestissement.com.

France—Information for Individual Investors on Foreign Exchange (FOREX)


Germany—Programs for Individual Investors

Deutsche Börse
Deutsche Börse's Web site has a Private Investors portal that allows investors to create their own watchlists along with real-time data and newsletters. The Web site also has information for investors about different financial products and trading strategies and has an investment club corner. The Web site can be found at: deutsche-boerse.com/dbag/dispatch/de/kir/gdb_navigation/home.


Hong Kong—Information for Individual Investors on Foreign Exchange (FOREX)


India—Programs for Individual Investors

The Institute of Chartered Accountants of India
The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its 61 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the whole world. Realizing the need of the current market scenario and investor requirement, the Committee on Financial Markets and Investors' Protection of ICAI has published a "Handbook for Investing & Investor Protection." This publication provides information on investment process, rights of investor, commodity and currency market, clearing and settlement, grievances, arbitration aspects, etc. The contents of the book are simple and very precise and were written keeping in view in the interest of investors at large. ICAI's Web site can be found at: icai.org/.


Japan—Programs by Government Regulators

Financial Services Agency (FSA)
The Financial Services Agency (FSA), the government regulator for Japan's capital market, carries out its consumer education program primarily through the network provided by the Central Council for Financial Services Information as well as similar networks provided by local governments. The FSA has recently rebuilt its Web site so that it contains extensive information for retail investors. In addition, the FSA is working to increase the level of economic and financial education in schools by developing teaching materials for these topics. The FSA's Web site can be found at: www.fsa.go.jp/en/index.html.

 

Japan—Programs for Individual Investors

Central Council for Financial Services Information
Established in 1952 by the Bank of Japan, the Council offers a wide variety of consumer education programs on finance intended primarily to enlighten the public regarding the importance of basic financial and economic knowledge related to daily life. The Council provides brochures, educational video, symposium and lectures and also provides some educational material on its Web site, which can be found at: www.saveinfo.or.jp/e/.

Japan Securities Dealers Association (JSDA)

Tokyo Stock Exchange
The Tokyo Stock Exchange provides brochures, educational video, seminars and lecturers to individuals and groups interested in formation about financial markets. TSE has recently established a TSE Academy to provide educational programs intended to increase consumers' understanding about securities products. These programs target the general public as well as students and school teachers. The programs for the general public provide basic courses as well as more advanced courses that focus on specific areas, such as financial statements, bond transactions and margin transactions. TSE also sponsors, along with JSDA, the Securities Quest Web site. The Web site for the Tokyo Stock Exchange is at: www.tse.or.jp.

 

Japan—Special Focus Programs

A number of private sector organizations also provide investor education in Japan. These organizations include The Investment Trusts Association, Japan Association of Financial Planners and some NPOs. All of these groups provide brochures for individual investors while some also provide correspondence courses, lecturers and seminars.


South Korea—Programs for Children and Young Adults

Investing for Your Dreams

It is never too early for children to learn about the value of money and finance. As what we learn in our formative years affects the rest of our lives, childhood financial education can reward us in several important ways. Developing a healthy attitude toward money at an early age lays the foundation for effective and responsible financial management later in life. Providing a solid, well-organized financial education program for children is also critical for the future of our nation's economy. There is no doubt that financially literate youth will become a powerful force driving our economy forward in this highly competitive global community.

As the leading agency for financial education in Korea, the Korea Council for Investor Education (KCIE) has taken the initiative to provide a wide range of financial literacy programs, not only for general investors but also for children and teenagers. As part of this effort, the KCIE has published, based on its extensive experience and expertise in investor education, an English version of Investing for Your Dreams, a set of financial education materials consisting of a teacher's guidebook and a student's textbook. Investing for Your Dreams primarily aims to help children increase their understanding of finance and the economy. In particular, it features illustrated explanations of the basic concepts of money management with each section ending with a practical exercise where students can practice what they have learned. It also comes with a CD-ROM containing flash animation to help guide the students through the exercises. In addition, the KCIE has developed an online interactive companion course for Investing for Your Dreams. Please click on the link below for the Investing for Your Dreams Package.

http://www.kcie.or.kr/junior_invest/eng/index.jsp

The KCIE remains committed to improving investor education throughout the Asia-Pacific region and beyond. As such, we hope that this multimedia education content will serve as a useful guide to help the young minds of the world enhance their financial capabilities to earn, budget, save and manage their money.

 

South Korea—Programs for Individual Investors

Korea Financial Investment Association

Korea Institute of Financial Investment (KIFIN)
KIFIN, a subsidiary of the Korea Financial Investment Association (KOFIA), was originally geared toward providing industry practitioners with training and education courses, registration and qualification exams, but has broadened the breadth of its programs to the general public, including retail investors. KIFIN provides courses appropriate for market practitioners and the general public ranging in experience from novice to expert. Courses are classified into General, Professional, Qualified, Special and Cyber training. KKIFIN's Web site can be found at: www.kifin.or.kr.

Korea Stock Exchange (KSE)
KSE is a stock market and self-regulatory organization that offers programs and seminars meant to improve retail investors' general knowledge of Korea's securities markets. These programs include the Sound Investment Strategy Seminar, the Security School for University Students, which is available upon demand, the University Visiting Lecture program every month, the Elementary Stock Market Class for Elementary School Students and the Stock Market Workshop for secondary school teachers. KSE's Web site can be found at: http://eng.krx.co.kr/.

 

South Korea—Special Focus Programs


There are a number of private organizations in Korea providing various investor education programs related to their specific area of the financial industry. For example, the Korea Investment Trust Companies Association covers topics relevant to investment trusts. The Korea Banking Institute (www.kbi.or.kr) provides a wide range of programs based on topics germane to banking and financial services while the Korea Federation of Banks' (www.kfb.or.kr) education program also covers topics on banking and financial services.


Sweden—Programs for Individual Investors

Stockholm Stock Exchange (Stockholmsbörsen)
The Stockholm Stock Exchange provides courses to public schools regarding investment in equities, unit trust investment funds and other equity-related securities that are quoted on the stock exchange. It also provides various courses for the general public and publishes monthly a magazine that informs the public by means of educational articles regarding various financial products. The Stockholm Stock Exchange's Web site can be found at: www.stockholmsborsen.se.

Swedish Shareholders' Association (Aktiespararna)
Aktiespararna is an independent organisation representing the interests of private individuals who invest in stocks, mutual funds and other equity related securities in Sweden. Aktiespararna was founded in 1966 and had more than 80,000 members in 2004. Among other activities, Aktiespararna informs and educates its members about shareholding, with the aim of improving their capacity to independently make decisions about investing in equities. Aktiespararna's Web site can be found at: www.aktiespararna.se/english.

 

Sweden—Special Focus Programs

Premium Pension Authority (PPM)
Under Sweden's pension system workers contribute 2.5 percent of their salary toward a "premium pension". These funds are placed in individual investment accounts and contributors selects the specific investments for their accounts from a wide variety of funds, including a broad array of Swedish equity funds, regional and global equity funds, country equity funds (e.g., Japan, U.K.), funds focused on specific sectors such as technology and communications and pharmaceuticals, "mixed" funds that combine equities and interest-bearing securities, "generation" funds that offer differing mixes of equities and interest-bearing securities depending on years to retirement, and funds concentrated in interest-bearing securities. Within these categories, individual funds offer a variety of special features, such as active versus index-based management, ethical investment criteria, and more or less aggressive growth strategies. Contributors can also invest a portion or all of their contributions into a default fund called the Premium Savings Fund.

Given the staggering array of potential choices facing contributors, Sweden's Premium Pension Authority (Premiepensionsmyndigheten or PPM) makes information available about fund choices available to potential contributors. Prior to each round of contributions, it publishes and sends to new entrants to the system a very detailed booklet on how to go about making fund choices, as well as a fund catalogue listing all funds (broken down into categories and subcategories), a brief description of each fund, its total capital, fund management charges, returns for each of the last five years as well as a total five-year return (where applicable), and a measure of fund risk. PPM's Web site can be found at: www.ppm.nu/tpp/infodocument/1:1;250,251;:.

Swedish Consumers' Banking and Finance Bureau
The Bureau is an independent agency whose objective is to meet consumers' need for neutral information and guidance with regard to financial services and to provide support in dealings with banks, credit institutions, investment firms and mutual fund companies. The specific objectives of the Bureau are to: (1) satisfy the consumer's need for information and guidance concerning financial services and give them support in their contacts with the financial institutions; (2) help both to highlight consumer problems in the financial sphere and to ensure their prompt rectification; (3) convey an objective picture of the financial industry to the general public and media; (4) increase the public's and media's knowledge of the financial industry; (5) help to bring about flexible solutions to customer complaints; and (6) be responsible for feedback on identified consumer problems relating to individual member companies or the industry as a whole. The Web site for the Bureau can be found at: www.konsumentbankbyran.se.


United Kingdom—National Strategy for Financial Capability

The Financial Services Authority (FSA), the government regulator for the capital market in the UK, is the coordinator of the UK's National Strategy for Financial Capability which was launched in 2003 with the objective of increasing financial capability in the UK by working with private sector stakeholders. As defined by the FSA and its partners financial capability is about being able to manage money; keeping track of it; planning ahead; choosing financial products; and staying informed about financial matters. The FSA and its private sector partners are focusing their efforts on seven specific priority areas: (1) schools; (2) young adults; (3) workplace; (4) families; (5) retirement; (6) borrowing; and (7) financial advice. At the start of the campaign the FSA stated that the intent was to treat financial capability messages, "…like a commercial product that we want people to adopt and act upon. That means reaching out to individuals with innovative and imaginative marketing techniques and 'selling' them the idea that personal finance matters and that it need not be difficult."

The FSA's website for the financial capability campaign sets out the programs and events which the FSA is helping to coordinate in order to promote financial capability across the seven priority areas as well as links to research, speeches and current news and can be found at: www.fsa.gov.uk/library/other_publications/fcp.

The National Strategy for Financial Capability set an objective to reach 10 million people by 2011 and to mid-2009 had reached 7 million via the websites, publications, training courses and through intermediaries. By focusing on the seven priority areas the FSA and its partners have been able to target the information they provide and relate it to the circumstances they expect them to be facing – information that fills a need. An example of this is the design of "The Parent's Guide to Money" which is being distributed through health-care workers, helps expectant parents plan their finances at an important stage in life when they face big changes. It covers budgeting, state benefits, the cost of children and childcare, maternity and paternity rights, savings and work. It also comes with a CD-ROM containing easy to use calculators to help parents balance their family finances. The use of health-care workers to aid delivery is a good example of using existing networks and the partnership approach which is being skillfully used by the FSA and its partners.

Volunteers are also delivering workplace seminars which can have an immediate and direct impact. These seminars cover basic financial planning and budgeting; borrowing – long term and short term; insurance; saving and investing; and planning for retirement.

In addition the "Moneymadeclear Pathfinder" program has been launched which delivers guidance on money matters face to face, over the phone and online. This is a scheme using the partners as a means of delivery. The UK Government has backed this scheme and it will be rolled out nationally in 2010.

The UK financial capability program aims to achieve a gradual and continued improvement in the overall level of capability - it is expected to take a generation to achieve. The overall shape of the program is focused on the longer-term challenges.

The FSA's research "Financial capability and wellbeing: Evidence from the BHPS" published in May 2009 has indicated that for a financial capability program to be successful it must not just impart information, but that information must change behaviour. If successful the results are a better functioning financial services market and for consumers lower mental stress, higher reported life satisfaction (even accounting for differences in income), and reduced likelihood of reporting health problems associated with anxiety or depression.

In the Government's "Reforming Financial Markets" White Paper published in June 2009 set out proposals requiring the FSA to establish an independent consumer education and information authority, to take forward the financial capability and money guidance work.

Information on the above programs and more including the UK Financial Capability targets for 2008/09 are available on the Building Financial Capability website www.fsa.gov.uk/pubs/other/financial_capability_uk.pdf.

 

United Kingdom—Programs by Governments

Various branches of the national government in the UK are involved with providing financial education, including the Department for Work and Pensions, the Department for Trade and Industry, the Treasury and the education departments. Among other initiatives, the Department for Work and Pensions has developed the Informed Choice Program that aims to bring about a cultural change in regard to saving for retirement by improving access to information about retirement saving, and building the financial knowledge of people in the UK. To accomplish its objectives the Informed Choice Program is working with employers to improve people's access to pensions as well as increasing private pension participation rates, where work-based pensions are available. In addition, in early 2006 the government launched an online debt calculator for overstretched consumers and a money-management course for teenagers that will be offered in schools across the country later in the year. The Government also announced that beginning in 2008 the school curriculum would contain a high-quality and comprehensive personal financial education component. In England, this change is to be achieved by linking personal finance education to planned changes in the functional mathematics units being prepared for classrooms in 2008. The government is also considering how a personal finance education program could be incorporated into the revised GCSE mathematics syllabus from 2010.

 

United Kingdom—Programs for Children and Young Adults

Financial Education Partnership (FEP)
FEP offers free workshops in financial capability and a range of other finance related topics to schools and pupils in Scotland. Formerly known as the Banking Education Partnership, the aims of the FEP are to provide financial education to young people across Scotland, to give young people in schools access to real business experience and to encourage pupils to prepare for adult life. The Partnership's Web site can be found at: www.fep.org.uk.

Personal Finance Education Group (pfeg)
pfeg is an educational charity whose mission is to make sure that all young people leaving school have the confidence, skills and knowledge in financial matters to take part fully in society. pfeg offers a range of advice and resources suitable for pupils of all ability levels, as well as reflecting different social, economic and cultural backgrounds. pfeg aims to help teachers to develop financial capability in young people, particularly those working with children and young people aged 4 to 19. It brings together educationalists, financial services industry representatives, regulators, government departments, and consumer representatives in order to educate all those at school about personal finance. The Web site contains free download case studies and directory of resources with summary of contents. Pfeg's Web site can be found at: www.pfeg.org.

Scottish Centre for Financial Education (SCFE)
The role of the SCFE is to help teachers, schools and education authorities in Scotland provide a high standard of financial education to meet the needs of all their learners. The Centre will provide help in planning continuing development and advice on useful resources for learning and teaching. SCFE's Web site can be found at: www.cas.org.uk/.

 

United Kingdom—Programs for Individual Investors

Institute of Financial Services (ifs)
The Institute of Financial Services is the official brand of the Chartered Institute of Bankers (CIB), a registered charity and one of the leading bodies for the provision of both education and life-long career support services to the financial services industry, and formal financial education to the public at large. In addition, the Institute of Financial Services now owns and operates ifsProShare, which provides a range of competitions that complement the ifs qualifications and helps to educate students about investment, the stock market, business economics and personal finance. The Institute's Web site is at: www.ifslearning.ac.uk/ .

Life Academy
Life Academy, an educational charity, and the national centre for life planning in the UK, provides pre-retirement and life planning courses for individuals and companies that help individuals to increase their financial awareness and prepare for their departure from full-time paid work. Among its various programs, Life Academy offers "Learn About Money", which addresses the need for better financial education among adults by providing a bridge between basic money handling skills and the information provided by financial products and advisors. The program is independent of any commercial interest and does not promote any financial product. Life Academy also offers pre-retirement courses that address a variety of topics including finance, health, work, leisure, relationships, self-identity, and other issues related to the transition into retirement. The pre-retirement courses are available at five fixed locations throughout the UK, in-house at places of employment and as one-to-one "executive" counselling. Life Academy's Web site can be found at: http://www.life-academy.co.uk/. A sample outline for their pre-retirement course is available at: www.life-academy.co.uk/ONLINE+RETIREMENT+COURSE.

Training for Profit (TFP)
Training for Profit has been providing private investor education since 1997. TFP offers a wide range of workshops for private investors as well as online training programs.

 

United Kingdom—Special Focus Programs

Citizens Advice
Citizens Advice is a registered charity with offices in England, Wales and Northern Ireland, provides free information and advice from nearly 3,400 locations and works to influence policymakers on a variety of issues of concern to consumers. Citizens Advice helps people resolve their debt, benefits, housing, legal, discrimination, employment, immigration, consumer and other problems and is available to everyone regardless of race, gender, sexuality, age, nationality, disability or religion. In addition to the advice that it offers to consumers, which is done primarily by trained volunteers, Citizens Advice also co-ordinates social policy, media, publicity and parliamentary work and maintains an information and advice Web site at www.adviceguide.org.uk.

Money Advice Scotland
Money Advice Scotland (MAS) was set up in 1989 courtesy of a grant from the Scottish Consumer Council as the umbrella organization to represent individuals and agencies involved in all areas of money advice (debt advice). Money Advice Scotland does not provide an advice service direct to the public, but does keep up to date details of advice agencies throughout Scotland who provide a free, independent, impartial and confidential money advice service. Money Advice Scotland provides training for individuals providing debt advice to consumers. Money Advice Scotland also represents the view of its members on policy issues, and liaises with national, statutory and voluntary agencies on the promotion and development of money advice services. Money Advice Scotland's Web site is found at: www.moneyadvicescotland.org.uk.


United States—National Strategy for Financial Literacy

The U.S. Financial Literacy and Education Commission, which was established under Title V of the Fair and Accurate Credit Transactions Act of 2003 in order to, "…improve the financial literacy and education of persons in the United States through (the) development of a national strategy to promote financial literacy and education", announced a national strategy for promoting financial literacy in the United States in early 2006. Prior to publishing its report, the Commission had focused on: (1) encouraging government and private sector efforts to promote financial literacy; (2) coordinating the financial education efforts of the federal government, including the identification and promotion of best practices for financial education; (3) establishing of a website to serve as a clearinghouse and provide a coordinated point of entry for information about federal financial literacy and education programs, grants, and other information; and (4) setting up a toll-free hotline available to members of the public seeking information about issues pertaining to financial literacy and education. The Commission's website can be found at: www.mymoney.gov.

The new national strategy to promote financial literacy in the U.S. has four main components: (1) building public awareness of available resources; (2) developing tailored, targeted materials and dissemination strategies; (3) tapping into public-private and private-private partnerships; and (4) promoting research and evaluation of financial education programs. The strategy is explained in a report issued by the Commission, Taking Ownership of the Future, which provides a detailed overview of many of the programs now in existence in the U.S. to promote financial and investor education. While not a comprehensive evaluation of the effectiveness of the different programs, the examples given in the Commission's report will serve as an invaluable resource for providers of financial and investor education in the U.S. and elsewhere. The report includes chapters on work being done to promote higher savings, home ownership, retirement savings, better use of credit, consumer protection, taxpayer rights, investor protection, services for the unbanked, provide targeted financial education services for multilingual/multicultural populations, promote financial education in schools as well as academic research and program evaluation. The report also discusses coordination efforts to promote financial and investor education in the U.S. and international efforts to promote financial and investor education. The Commission's complete report can be found at: www.mymoney.gov/sites/default/files/downloads/ownership.pdf.

 

United States—Programs by Governments

U.S. Treasury's Office of Financial Education
The U.S. Treasury's Office of Financial Education, established in 2002, coordinates the work of the Financial Literacy and Education Commission. In addition to its work with the Commission, the Office of Financial Education's has developed an extensive list of the investor education programs and materials offered by Federal agencies and related entities, such as the Federal Reserve, which is available on its Web site. It has also identified eight elements of a successful investor education program, which are intended to serve as guidance for providers of financial education as they develop programs and strategies and are available on the Office's Web site. Additionally, the Office of Financial Education has set up a helpline and a technical assistance center for providers of financial education. The Web site for the Treasury Department's Office of Financial Education can be found at: www.treasury.gov/resource-center/financial-education/Pages/default.aspx.

 

United States—Programs by Government Regulators

Federal Reserve System
As one of the three national regulators for the U.S. banking system, the Federal Reserve System and individual Federal Reserve banks offer a variety of information and outreach programs for consumers interested in learning about financial markets in the U.S., investment products and the investment process. The Federal Reserve also sponsors a dedicated Web site with extensive information for consumers about personal financial literacy and for teachers about teaching financial literacy. This Web site is found at: www.federalreserveeducation.org/.

Securities and Exchange Commission (SEC)
The SEC's Web site contains an interactive program dealing with the steps to take in order to become a smart saver and investor. In addition, the SEC's Office of Investor Education and Assistance publishes free brochures and other educational materials on numerous investing topics. These materials and other information are available on the SEC's Web site at: www.sec.gov/investor.shtml.

Most state securities regulators in the U.S. are involved in investor education in their own jurisdictions. In particular, state securities regulators have many grass roots initiatives to educate investors and support financial literacy efforts in schools through the Financial Literacy 2010 program. The Web site for this program can be found at: www.fl2010.org.

 

United States—Programs for Children and Young Adults

Jump$tart Coalition for Personal Financial Literacy
Jump$tart's purpose is to evaluate the financial literacy of young adults; develop, disseminate, and encourage the use of standards for grades K-12; and promote the teaching of personal finance. The Jump$tart Coalition believes that all young adults need to have the financial literacy necessary to make informed financial decisions. The Coalition's Web site can be found at: www.jumpstart.org/.

Council for Economic Education
The mission of the Council for Economic Education is two-fold: To advocate for better and greater school-based economic and personal finance education at the K-12 level; and to educate young people in the United States and around the world, primarily through well-prepared teachers, so they may become empowered with economic and financial literacy. The Council for Economic Education offers comprehensive, best-in-class K-12 economic and personal finance education programs, including the basics of entrepreneurship, consisting of teaching resources across the curriculum, professional development for teachers, and nationally-normed assessment instruments. Each year, the Council's programs reach more than 150,000 K-12 teachers and over 15 million students in the United States and in more than 30 other countries. These programs are delivered through a diversified system: directly from the Council, through a network of affiliated state Councils and university-based Centers for Economic Education, and through other partner organizations. The Council's Web site can be found at: www.councilforeconed.org/.

 

United States—Programs for Individual Investors

American Association of Individual Investors (AAII)
AAII specializes in providing education in the area of stock investing, mutual funds, portfolio management and retirement planning. AIAII has an annual two day conference intended to educate retail investors about various aspects of the investment process, hosts individual chapters in the main urban areas which have their own program of activities and also provides publications on various investment topics. In addition, the association's Web site contains extensive information for individual investors and also provides a monthly newsletter for members. The AAII's Web site can be found at: www.aaii.com.

Investment Company Institute Education Foundation (ICIEF)
Formed in 1989, the ICI Education Foundation (ICIEF), the educational affiliate of the Investment Company Institute, partners with government agencies and other nonprofit organizations to help promote or enhance investor awareness on behalf of the mutual fund industry. For the past three years, the Foundation's primary focus has been the Investing for Success program and partnerships. This program is designed to strengthen investor awareness in the African-American and Hispanic communities. The Foundation also participates in national educational partnerships and programs. ICIEF's Web site can be found at: www.icief.org/.

Investor Protection Trust (IPT) and Investor Protection Institute (IPI)
The Investor Protection Trust (IPT) is a nonprofit organization devoted to investor education. Over half of all Americans are now invested in the securities markets, making investor education and protection vitally important. Since 1993 the Investor Protection Trust has worked with the States and at the national level to provide the independent, objective investor education needed by all Americans to make informed investment decisions. The Investor Protection Trust strives to keep all Americans on the right money track.

The Investor Protection Institute (IPI) is a nonprofit organization that promotes investor protection by conducting and supporting research and education programs.

A variety of non-commercial investor education and protection materials, including booklets, video, and curriculum, are available and can be downloaded for educational purposes at: www.investorprotection.org/.

BetterInvesting
Founded in 1951 and headquartered in Madison Heights, Mich., BetterInvesting is considered the pioneer of the modern investment club movement, as well as the voice of the individual investor. BetterInvesting is dedicated to providing a sound program of investment education and information to help its members become successful long-term, lifetime investors. BetterInvesting and its subsidiary, ICLUBcentral, provide the full array of tools and investment education resources for investors of all experience levels. BetterInvesting's Web site can be found at: www.better-investing.org/.

FINRA and the FINRA Foundation

National Endowment for Financial Education (NEFE)
NEFE is a non-for-profit foundation dedicated to helping all Americans acquire the information and gain the skills necessary to take control of their personal finances. NEFE accomplishes its mission by partnering with other concerned organizations to provide financial education to members of the public, in particular, to individuals that are not being served by other programs. In all of its partnerships, NEFE functions as an active participant by providing funding as well as the logistical support and financial planning expertise needed to create personal finance programs and materials for the public. NEFE also underwrites grants, fellowships, and research projects and facilitates the exploration of new ideas in the field of personal financial planning by sponsoring events for professionals throughout the financial services industry. NEFE's Web site can be found at: www.nefe.org/.

NYSE Euronext
NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., was launched on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world ' s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext provides investor education services through lecturers that are available to speak at schools and other public events. In addition, NYSE Euronext's Web site contains information about investing options, research basics, types of orders and frequently asked questions. This section of NYSE's is at: nyse.nyx.com/financial-literacy.

SIFMA and the Foundation for Investor Education

 

United States—Special Focus Programs

Alliance for Investor Education (AIE)
The Alliance for Investor Education brings together the main providers of investor education in the U.S. so that they can exchange information about their various investor education programs. In addition, the Federal Reserve Board, North American Securities Administrators Association, the SEC and the Federal Trade Commission advise AIE. Publications for investors and other information can be found on AIE's Web site at: www.investoreducation.org/index.cfm.

United States—Information Related to Scams, Frauds, Investor Alerts

United States—Information for Individual Investors on Foreign Exchange (FOREX)


Multilateral Organizations—Information for Individual Investors on Foreign Exchange (FOREX)