Lori Schock - 2014 Symposium on Financial Education in Korea


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This presentation by Lori Schock was made at the High-level Global Symposium on Financial Education: Promoting Long-term Savings and Investments in Korea which explored policies and good practices for supporting long-term savings and investments through financial education and financial consumer protection. Find out more at http://www.oecd.org/daf/fin/financial-education/globalsymposiumonfinancialeducationforlong-termsavingsandinvestments.htm

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  • Collaborative Partnership
    FINRA Investor Education Foundation
    U.S. Securities and Exchange Commission
    State Securities Regulators and Other State Agencies
    National Organizations – AARP and Council of Better Business Bureaus
    Stanford University Center on Longevity
    Law Enforcement, Crime Prevention and Grassroots Organizations
  • Binary Options and Fraud issued jointly with CFTC in June 2013.
    Private Oil and Gas Offerings issued May 2013.
  • Investor Alert July 2013
  • February 2014 bulletin published.
    Fund Analyzer
    The Fund Analyzer offers information and analysis on over 18,000 mutual funds, Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). This tool estimates the value of the funds and impact of fees and expenses on your investment and also allows you the ability to look up applicable fees and available discounts for funds.
  • Series of Bond Investor Bulletins in June 2013.
    Corporate Bonds
    High-Yield Bonds and
    Interest Rate Risk.
  • New York Times Article by Jeff Sommer July 20, 2013.
  • Lori Schock - 2014 Symposium on Financial Education in Korea

    1. 1. High-Level Global Symposium on Financial Education: Promoting Long- Term Savings and Investments Lori J. Schock, Director Office of Investor Education and Advocacy U. S. Securities and Exchange Commission 26-27 February 2014
    2. 2. SEC Disclaimer The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. The views expressed in this presentation do not necessarily reflect the views of the SEC, its Commissioners, or other members of the SEC’s staff.
    3. 3. Three Key Messages for Investors  Avoid Fraud  Investor Protection Campaign  Recent Investor Alerts  Impact of Fees  Recent Investor Bulletin  Fund Analyzer  Manage Risk  Current Environment  Interest Rate Risk  Need for Diversification 3
    4. 4. Investor Protection Campaign ►Outsmarting Investment Fraud – Understanding Fraud Risk – Recognizing Persuasion Tactics – Preventing Investment Fraud ►Incorporates moderated presentation, videos, and learning activities & exercises ►Call to Action: Deputizes participants to warn others
    5. 5. Preventing Fraud – Ask and Check ►Those who counter-argue and actively question a communication are less persuaded. ►Interviews of cons reveal that they do not like to be questioned. ►Ask and check the registration status of the professional and investment. ►ASK if they are licensed to sell the investment and if the product is registered. ►CHECK that they are licensed and the product is registered.
    6. 6. Investor Alerts on Fraud
    7. 7. New Product, Old Scam The S.E.C., for its part, has been warning investors of the danger of “potential investment scams” involving bitcoin and other virtual currencies. In one case, it has charged Trendon T. Shavers, a Texas man, with running a bitcoin-based Ponzi scheme with the promise of vast riches. “Con men read the headlines like everyone else,” said Lori Schock, director of the S.E.C.’s Office of Investor Education and Advocacy. “Bitcoins sound sexy and new, but at the end of the day, if they’re making claims about limitless wealth from unregistered investments it comes down to an old-fashioned Ponzi scheme.” Excerpt from New York Times article, A Bitcoin Puzzle: Heads, It’s Excitement. Tails, It’s Anxiety. By JEFF SOMMER Published: November 23, 2013 7
    8. 8. Impact of Fees: Investor Bulletins and Cost Calculators
    9. 9. Manage Risk
    10. 10. Media Coverage – July 20, 2013 by Jeff Sommer of the New York Times 10
    11. 11. SEC contact information Websites: www.sec.gov www.investor.gov Telephone number: (202) 551-6500 Twitter: @SEC_Investor_Ed Mail: U.S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Name: Lori J. Schock, Director Office of Investor Education and Advocacy Email: SchockL@sec.gov