About IFIE-Asia Chapter
Along with my colleague Fumiaki (Fumi) Miyahara, Senior General Manager of International Affairs Division of JSDA, I want to express my respect and gratitude for the contributions of all members in the IFIE-Asia Chapter and encourage others reading this to join us!
The Asian economies have been showing steady growth over the recent years. In line with the growth, their investor base has been broadened significantly. For instance, in India, 400 million people in the middle-income class are stepping in as investors. Other jurisdictions including China and ASEAN countries also show a similar trend. This predicts that the demand for investor education, particularly for the younger generations, will increase significantly in Asia in the foreseeable future.
On the other hand, the financial products surrounding investors are becoming increasingly complex？ There are more than a few cases where investors can end up taking on unexpected risks because they do not understand the true nature of a product. Asia is no exception in this trend. Therefore, we need to continue to push forward with effective investor education programs for the public.
Another aspect that we have all seen in our markets is the increasing number of victims of financial scams, in many cases the elderly. Investor education is again critical to prevent investors from becoming victims of get-rich-quick and other scams, which seriously impair investors' confidence in the market and discourage investment.
Against this backdrop, regulators, industries and other organizations in many jurisdictions have become increasingly convinced that investor education is an essential part of the overall consumer protection framework as well as an important tool for promoting sound development of the securities market.
JSDA was a founding member of the International Forum for Investor Education and it's Asia Chapter efforts because it believes in the importance of working collaboratively across sectors and jurisdictions to strengthen the resources available for Financial Capability and Investor Education--especially at the implementation level. We believe it is critical to implement effective education measures "continuously" and "consistently" from a long-term point of view.
The IFIE Asia Chapter framework allows us to focus on priority issues and needs in Asia while benefitting from the resources and programming of IFIE global and other regional chapters. We also work with IFIE global and other regions to present webinars and virtual programmes that can share ideas and implementation and problem-solving ideas and opportunities for professional development. Face to face meetings and programmes--including our annual AGM held in conjunction with the IFIE-IOSCO Global Investor Education Conference each year--provide additional opportunities to collaborate and network.
Please join us. Sharing information among the AFIE membership, let's all work together to increase the effectiveness of our activities. In fact, building of our Chapter provides a uniquely Asian solution to our issues and creates real value for the IFIE Asia members. I believe that we will be able to share this value with the IFIE and other stakeholders around the world.
We look forward to your support and working together.
Thank you very much.
Kazutoshi Inano Chairman, JSDA and Chairman IFIE Asia Chapter
Fumiaki (Fumi) Miyahara, Senior General Manager of International Affairs Division of JSDA and Acting Treasurer IFIE Global