*To Promote Investor Protection
The International Organization of Securities Commissions (IOSCO) has launched its second annual (World Investor Week’ (WIW), following its success last year at attracting more than one thousand financial organizations to showcase their initiatives for promoting investor education and protection across the globe.
IOSCO said that in Japan, where financial markets are the first in the world to open every morning, the Financial Services Agency inaugurated WIW with a formal ceremony at its headquarters in Tokyo, from October 1 to 7 2018.
It stated that securities regulators, stock exchanges, international organizations, investor associations and other stakeholders from more than 80 countries are offering an array of activities to increase the awareness of investor education and protection in their jurisdictions.
The activities range from the organization of workshops and conferences to local/national investor education campaigns, games and contests, and many of these events will continue throughout the rest of the year.
Meanwhile, in addition to highlighting the importance of investor education and protection, a key objective of the WIW is to foster learning opportunities for investors – a particularly important goal in the current context of rapid technological innovation and increasingly interconnected financial markets.
Indeed, this year´s WIW not only seeks to promote the basics of smart investing but also to ensure that retail investors understand the risks associated with initial coin offerings, crypto-assets and other online investments, IOSCO added.
According to IOSCO, in Brazil, participants during the week are using live sessions on social media to explain the rudiments of sound investing to the young; French groups are launching a radio campaign to spread the WIW´s key messages on investing wisely; US participants are holding an educational summit on investing for retirement; in Romania, students are debating financial issues in a public forum; Hong Kong stakeholders are staging an investor seminar titled Changing landscape. Changing risks; undergraduates.
in Pakistan are competing in an inter-university stock trading contest; in Kazakhstan, a financial literacy Road-show is focusing on green and Islamic finance; and Zambian entities are offering awareness programmes at schools and universities, workplaces and public forums, to name just a few of the many activities that are taking place in over 80 countries within the week.
In addition, International groups are participating in WIW, which is endorsed by the Argentine G20 Presidency. The Financial Planning Standards Board (FPSB), together with its 26-member organizations representing 175,000 certified financial planners (CFPs), celebrated World Financial Planning Day on 3 October 3, to complement the activities of WIW. FPSB´s activities focus on debt management, home ownership, retirement and investment planning, to promote financial literacy further and encourage consumers to assume more responsibility for their finances.
The International Forum for Investor Education (IFIE) offers a variety of activities in support of WIW that help build capacity at both a global and regional level.
The IFIE Americas Caribbean Working Group—representing 16 jurisdictions across the Caribbean—has launched a Caribbean-wide video initiative to present Voices of the Caribbean: Empowering the Caribbean toward financial independence and resilience.
Chairman of the IOSCO Board and the Chief Executive Officer of the Hong Kong Securities and Futures Commission,
Ashley Alder, said,“The global scale of World Investor Week and the encouraging collaboration between IOSCO members and their stakeholders in conducting these activities demonstrates IOSCO’s strong commitment to investor education and protection”.
Also speaking, IOSCO Secretary General, Paul Andrews, said, “IOSCO welcomes this second iteration of World Investor Week as evidence that this annual event is gaining the momentum it needs to protect investors and prepare them for dealing with the challenges of increasingly interconnected and digitalized capital markets.”
The WIW dedicated campaign website (www.worldinvestorweek.org) provides details on the various participating authorities and the international organizations supporting this effort.
IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation. The organization’s membership regulates more than 95 percent of the world’s securities markets in more than 115 jurisdictions and it continues to expand.
Its Board is the governing and standard-setting body of the International Organization of Securities Commissions (IOSCO), and is made up of 34 securities regulators, with the Chief Executive Officer of the Securities and Futures Commission (SFC) of Hong Kong, Mr. Ashley Alder, as the Chair of the IOSCO Board.
The current members of the IOSCO Board are the securities regulatory authorities of Argentina, Australia, Belgium, Brazil, China, Egypt, France, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Japan, Kenya, Korea, Malaysia and Mexico.
Others are the Netherlands (observer), Ontario, Pakistan, Panama, Portugal, Quebec, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates, the United Kingdom, and the United States of America.
The Chair of the European Securities and Markets Authority (ESMA) and the Chair of IOSCO´s Affiliate Members Consultative Committee are also observers.
At the moment, the Growth and Emerging Markets (GEM) Committee is the largest committee within IOSCO, representing close to 80 per cent of the IOSCO membership, including 11 of the G20 members.
Mr. Ranjit Ajit Singh, Chairman of the Securities Commission Malaysia and Vice Chair of the IOSCO Board, is the Chair of the GEM Committee.
The Committee brings members from growth and emerging markets together and communicates members’ views and facilitates their contribution across IOSCO and at other global regulatory discussions. The GEM Committee’s strategic priorities are focused, among others, on risks and vulnerabilities assessments, policy and development work affecting emerging markets, and regulatory capacity building.
Meantime, some of the principal aims of IOSCO through its permanent structures: to cooperate in developing, implementing and promoting adherence to internationally recognised and consistent standards of regulation, oversight and enforcement in order to protect investors, maintain fair, efficient and transparent markets, and seek to address systemic risks.
Also to enhance investor protection and promote investor confidence in the integrity of securities markets, through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries; and to exchange information at both global and regional levels on their respective experiences in order to assist the development of markets, strengthen market infrastructure and implement appropriate regulation.