In the Spring-Early Summer Double 2011 Issue ...


IFIE Chairman's Message

I am very pleased to have been elected to a two year term as Chairman of IFIE. As those of you who joined us at the IFIE-IOSCO Global Investor Education Conference in Cairo know, this is a critical time to be involved in strengthening investor and financial education globally. In Korea at KOFIA we have been aggressively working on investor and financial education programs and sharing the results, including on IFIE's website and Resources Clearinghouse. We are also honored to be chairing AFIE (the Asian Forum for Investor Education) as part of IFIE's Global-Regional initiative.

IFIE has an ambitious agenda over the next two years which includes:

*More deeply and broadly engaging existing members of IFIE (See the list and description of current members of IFIE here.)

*Recruitment and engagement in the work of IFIE additional organisations and individuals interested in best practices in financial and investor education across the globe

*Leveraging and extending the reach of existing IFIE programmes and initiatives

*Extending our efforts to organize and support global regional organisation of investor and financial education as we have done with AFIE and IFIE-MENA

*Moving towards an annual global Investor Education Conference beginning in 2012. Save the 20-22 May 2012 dates and join us in Seoul, Korea where I look forward to welcoming you personally to the 2012 Global Investor Education Conference!

IFIE will also continue other existing programmes that further its mission including:

*The annual trends in global investor education survey;

*The expanded website and its Investor Education Resources and Information Clearinghouse. Please submit any programme resources from your organisation or that you find helpful and we will post them in the Resources Clearinghouse.

Those of you who are IFIE members, IFIE affiliates and/or regional global affiliates of IFIE will be receiving an IFIE membership survey that asks for your feedback and input on IFIE programmes and activities. Please make sure you fill it out. The IFIE Advisory Committee uses the results to prioritise its activities and will report back to the membership.

The other elected officers of IFIE -- Vice Chair Roberta Wilton of CSI in Canada; Secretary - Treasurer Taka Onojima of JSDA in Japan; and Immediate Past Chair Steve Joachim of FINRA in the US -- join me in thanking all of you for your commitment to excellence in financial and investor education.

We at IFIE all look forward to meeting you and working with you over the coming months.


Kun Ho Hwang
International Forum for Investor Education

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What's New for IFIE Members/ from IFIE Advisory Committee Leaders

Dear IFIE Member,

As Vice Chair of IFIE and Chair of the Strategic Membership and Partner Development Committee, I want to underscore Chairman Hwang's request that you fill out our 2011 IFIE membership servey. I also want to alert you to the development of an IFIE Strategic Plan which will help guide our activities over the next few years.

In addition to its existing activities, communications and programmes, IFIE has set up four Committees. Each Committee will meet regularly (every 4-6 weeks), be staffed and supported by the IFIE Secretariat and report to the IFIE Advisory Board. We would like to ask you and/or another professional in your organisation interested in the financial and investor education work of IFIE to join at least one of the Committees listed below. IFIE assumes that individuals will commit to approximately one (renewable) year of service to the Committee. Here are the Committees that you and your colleagues can join:

IFIE Programme Committee:

The IFIE Program Committee will oversee new programme development; monitor, extend and leverage existing programmes; initiate and guide programme assessments; and facilitate discussions about programme priorities. From time to time, special programme projects will also be undertaken.
2012 Global Investor Education Conference Committee:

The 2012 Global Investor Education Conference Committee will oversee all aspects of the 2012 Global Investor Education Conference to be held 20-22 May 2012 in Seoul, South Korea including selection of conference themes; establishment of session and programme topics and flow; decisions related to presentation formats, frameworks and criteria; selection of persons to be invited to deliver keynote or other presentations; review of various proposals related to logistics; support for local sponsorships of the event; oversight of marketing and other related communications; coordination and arrangement of related committee, subcommittee, working group meetings and breakout sessions; support for related social events or tours; as well as setting of criteria, formats, and other aspects of the content, forms, standards, materials and follow up.
Global Regional Committee:

IFIE's Global Regional Committee oversees the work IFIE does in organising and developing initiatives, communications, programmes and capacity building for financial and investor education work in global regions across jurisdictions. IFIE currently has two global regional Forums organized under IFIE auspices – the Asian Forum for Investor Education (AFIE) and IFIE-MENA in Middle East-North Africa. The IFIE Global Regional Committee works to strengthen connectivity, communications, networking, mentoring and best practice sharing across jurisdictions in these two Forums. In addition, IFIE, with oversight and involvement from the Global Regional Committee, is currently working with partners and members to set up regional initiatives in Latin America, Europe and sub-Saharan Africa.
Strategic Membership and Partner Development Committee:

IFIE's Strategic Membership and Partner Development Committee works to strengthen and develop the membership across sectors of organisations interested in and committed to strengthening and building capacity to deliver best practice programming in financial and investor education across and within jurisdictions. Additionally, this Committee helps the organisation develop and work with multilateral partners.

If you are a member of IFIE and did not reply to or fill out the electronic form to join a Committee, please let the IFIE Secretariat know at

On behalf of Chairman Hwang, Secretary-Treasurer Taka Onojima; and Immediate Past Chair Steve Joachim, I want to thank you for your involvement in IFIE—and stress how important both your organisational and personal leadership is to IFIE. IFIE is built on the strength of its organisational members but also on personal leadership. Given the fast pace of change around the globe, and the significant scale up of IFIE programmes and activities, your personal member-leadership will be even more critical.

Do not hesitate to contact us if you'd like to discuss this further at

Best regards,

Roberta Wilton
Vice Chairman and Chair Strategic Membership and Partner Development Committee
International Forum for Investor Education

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Focus on: 2010 IFIE-IOSCO Global Investor Education Conference

On 8-9 November 2010, participants from 64 organisations from 36 countries covering every continent except Antarctica, gathered in Cairo, Egypt for the IFIE-IOSCO 2011 Global Investor Education Conference "Rebuilding the Trust of the Global Investing Public." The Host Committee was IFIE member Egyptian Financial Supervisory Authority (EFSA). EFSA also chairs IFIE-MENA, IFIE's global-regional Committee for the Middle East North African Region.

The Programme—put together by the IFIE/IOSCO Conference Programme Committee to which we are deeply indebted--was a spectacular world class combination of speakers, panels, breakout sessions and networking opportunities in which participants could exchange ideas and best practices from around the world. You can view the Conference agenda and see the Programme presentations here.

IFIE wants to thank Dr. Ahmed Saad Abdel-Latif and Hesham Ibrahim of the EFSA and their colleagues for their deep commitment to financial and investor education and hosting the event and sponsors from the Egyptian financial and regulatory community. the hard working IFIE/IOSCO Conference Programme Committee;

We also want to thank Greg Tanzer, Secretary General of IOSCO for co-sponsoring this conference. Without the partnership, support and cooperation of IOSCO, none of this would have been possible.

AND HOLD THE DATE: IFIE is proud to announce that the 2012 Global Investor Education Conference will be held 20-22 May 2012 in Seoul, Korea. So put the dates in your calendar and plan to join us. Look for additional details coming shortly!

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Focus on: 2010 IFIE State of Investor Education Survey

IFIE is also excited to report on the results of its second annual "IFIE Global Trends in Investor Education Survey." Despite the economic challenges of the last few years, funding for investor education programmes around the world remains strong. IFIE's Second Annual Global Investor Education survey shows growing global participation in investor education efforts. About half of leading organizations involved in investor education around the globe will increase their spending in 2011 and half will maintain previous spending levels this year

We had a 35 percent increase in participation this year from the survey in 2009, with responses received from 68 organizations. Six of the respondents indicated they operate on a global basis and 29 do so on a country-specific basis. A total of 26 regional committee members of IFIE provided responses, including 19 from the Asia Forum for Investor Education and seven from the Middle East-North Africa (MENA) region.

IFIE Chairman Kun Ho Hwang, who also serves as chairman of the Korea Financial Investment Association (KOFIA), Korea Council for Investor Education (KCIE), and the Asia Forum for Investor Education (AFIE), notes: "These survey findings reaffirm the importance of investor education as a tool for restoring investor confidence in markets recovering from the global economic downturn. It is the view of IFIE that this is the moment in time for the highest possible standards in investor education programs – a goal that the organization is committed to working with other organizations to achieve."

Roberta Wilton, IFIE Vice Chair and president and CEO of CSI Global Education Inc. adds: "The International Forum for Investor Education is committed to working with investor educators around the world to share best practices and to encourage the strongest possible outcomes in these important programs. From the most advanced markets to those financial systems just now emerging around the world, there is a clear need for a sharing of lessons learned when it comes to investor education. IFIE works with organizations both to embrace the most effective approaches and to avoid the pitfalls that others have experienced before them."

Other key findings of the second annual IFIE Global Investor Education Survey include the following:

The largest segment of investor education programming is in investor education for adults, which 43 respondents said they conduct;
31 respondents also said they operate financial education programmes for young adults age 18-21;
A third said they provide programmes and activities in more than one language;
70 percent are measuring the success of all or some of their investor education programmes; and
86 percent are using financial services professionals to deliver investor education programmes.

Of the IFIE Global Investor Education Survey respondents, 36 identified themselves as being from emerging market countries, whereas 13 were from developed countries. Six of the survey respondents operate on a global basis and 29 focus on a specific country.

The public version of the survey is available online here.

Investor Education Around the Globe

One of our Keynote presenters at the IFIE/IOSCO Global Investor Education Conference in Cairo Egypt was CEO Tony Hobman of the CFEB, Consumer Financial Education Body in the UK, which as of 4 April 2011 became the Money Advice Service. The profile below gives you the latest information and IFIE plans to follow up with more information and detail in future programming about the roll out of this important effort and what it means for best practices in our field.

The Money Advice Service is an ambitious nationwide service to provide free, unbiased advice to help everyone make the most of their money. The Money Advice Service is intended to help people take the right financial decisions and act on them, by giving personalised advice online at, over the phone on 0300 500 5000, and face-to-face across the UK through a national network.

The Money Advice Service aims to revolutionise the way people in the UK think about and manage their money. Research shows that if people feel in control of their finances they feel better off, have a greater sense of wellbeing, and are happier.

In 2011, the Money Advice Service will also launch an online health check, which will provide a personal action plan to help people identify their money priorities and make a plan for their financial future. A UK-wide campaign will also promote the Service and encourage everyone to foster good money habits and think differently about their money.

The Money Advice Service ( is an independent organisation. It gives free, unbiased money advice across the UK – online, over the phone and face-to-face. The Service was set up by Government and is paid for by a statutory levy on the financial services industry, raised through the Financial Services Authority. Its statutory objectives are to enhance the understanding and knowledge of members of the public about financial matters (including the UK financial system); and to enhance the ability of members of the public to manage their own financial affairs. The Service has an independent Chairman and board appointed by the Financial Services Authority. It was formerly the Consumer Financial Education Body (CFEB).

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IFIE Member Profile

The Korea Financial Investment Association (KOFIA) was launched on February 4, 2009 through the merger of the three associations representing the securities, asset management and futures industry, as set forth by the Financial Investment Services and Capital Markets Act (FSCMA), which took effect the same day. The previous three associations - the Korea Securities Dealers Association (established in 1953), the Asset Management Association and Korea Futures Association (both established in 1996) - played an essential role in building the framework of Korea's capital market and financial investment industry. Furthermore, they played a pivotal part in making Korea's capital market a world-class market by expanding the demand base in the securities market, building a healthy investment culture, establishing orderly trading practices, and nurturing financial experts. KOFIA is responsible for the fostering and training of market professionals through its educational arm, the Korea Institute of Financial Investment (KIFIN). KIFIN offers a wide range of training courses on the financial markets, with state-of-the-art education programs designed to meet the needs of the industry. KIFIN has developed various mid to long-term education programs to bring out the full potential of industry professionals. KOFIA played a leading role in founding the Korea Council for Investor Education (KCIE). The KCIE aims to make Korea the global model for individual investor education by offering the best on-line education programs, tailored to fit the particular needs of individual investors, college students, high school students, female investors, teachers and the general public. The KCIE offers classes both on-line and off-line. The KCIE will strive to reach the financially illiterate to make Korea the most financially literate nation in the world.

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New 2011 IFIE Members

The Global Financial Markets Association (GFMA) joins together some of the world's largest financial trade associations to develop strategies for global policy issues in the financial markets, and promote coordinated advocacy efforts. The member trade associations count the world's largest financial markets participants as their members. GFMA currently has three members: the Association for Financial Markets in Europe (AFME), the Asia Securities Industry & Financial Markets Association (ASIFMA), and, in North America, the Securities Industry and Financial Markets Association (SIFMA).

SIAS (Securities Investors Association of Singapore) a non-profit organization, was founded unexpectedly in June 1999. 174,000 retail investors were suddenly stranded when the Malaysian Government froze their investments on Malaysian stocks in September 1998, amounting to US$5 billion. A group of civic-minded citizens got together and took on the challenge to free the frozen shares with an initial backing by 49,880 retail investors as members. The resoluteness and unity of these citizens helped to resolve the issue on their terms.

Today, SIAS is the largest organized investor lobby group in Asia, with almost 66,000 retail investors as members. It is run by a Management Committee comprising of professionals who are volunteers. It actively promotes Investor Education, Corporate Transparency and Corporate Governance and is the watchdog for Investor rights. To date, SIAS has successfully organized some 230 investor education programmes ranging from basic investment seminars for novices to certificate courses for investment savvy investors. Thus far, about 20,000 retail investors have benefited from these programmes.

The Jersey Financial Services Commission is responsible for the regulation, supervision and development of the financial services industry in the Island of Jersey for banking, collective investment funds, fund services business, insurance business, general insurance mediation business, investment business, money service business, and trust and company service providers. The Director General is also the Registrar of Companies. Additionally, the Commission is the supervisory body for those sectors that are subject to regulatory oversight of their anti-money laundering and countering the financing of terrorism responsibilities, which includes: Accountants; Lawyers; Estate Agents; High Value Goods Dealers; and Non-Profit Organizations.

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