As part of the passage of the Dodd-Frank Wall Street Reform andConsumer Protection Act of 2010, the U.S. Securities and ExchangeCommission was tasked with conducting a study to identify theexisting level of financial literacy among retail investors andmethods and efforts to increase the financial literacy ofinvestors.
In its research, the SEC found that U.S. retail investors lackbasic financial literacy and have a weak grasp of elementaryfinancial concepts. They also lack critical knowledge of ways toavoid investment fraud, according to the study.
Women, African-Americans, Hispanics, the elderly and those whoare poorly educated have an even greater lack of investmentknowledge than the average general population.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
