SEC Seeks Public Comments on the Effectiveness of Investor Education Programs
The SEC is currently seeking public comments regarding investor education programs in order to determine which programs (private or public) are the most effective. The request is the result of the financial reform law and its efforts to increase investor protection.
Under the Dodd-Frank Act, the SEC is required to conduct a study on the financial literacy of U.S. investors and submit the results to the Senate and the House by July 12, 2012. Public comments will be used to help determine the "most effective existing private and public efforts to educate investors."
In addition to the numerous local, regional, and state programs that have surfaced over the past two years, there are several good resources for investors available online. Investor.gov, the SEC's investor education website, discusses investing basics and features information on working with brokers and investment advisers and avoiding investment fraud. Investor alerts, research help, and financial calculators are also prevalent. Additional resources, including videos and interactive quizzes, will be added in upcoming months, according to an SEC press release. Saveandinvest.org, a project of The FINRA Investor Education Foundation, also publishes information on avoiding investment fraud and managing money effectively.
Investors who wish to comment on investor education programs are asked to describe any programs they may have attended and to discuss what they feel are "the most important characteristics" of an effective program. The SEC also wants to know which investor education topics would be the most helpful to investors and why.
To submit a public comment to the SEC, click here.