Document ID: SEC-2011-0576-0001
Agency: sec
Document Type: Notice
Title: Comment Request on Existing Private and Public Efforts to Educate Investors
Posted Date: 2011-04-22T04:00Z

[Federal Register Volume 76, Number 78 (Friday, April 22, 2011)]
[Notices]
[Pages 22740-22741]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-9829]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64306; File No. 4-626]

Comment Request on Existing Private and Public Efforts To Educate 
Investors

AGENCY: Securities and Exchange Commission.

ACTION: Request for comment.

-----------------------------------------------------------------------

SUMMARY: In connection with a study regarding financial literacy among 
investors as mandated by the Dodd-Frank Wall Street Reform and Consumer 
Protection Act of 2010 (the ``Dodd-Frank Act''), the Securities and 
Exchange Commission is requesting public comment on the effectiveness 
of existing private and public efforts to educate investors.

DATES: Comments should be received on or before June 21, 2011.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/other.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number 4-626 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC

[[Page 22741]]

20549-1090. All submissions should refer to File Number 4-626. This 
file number should be included on the subject line if e-mail is used. 
To help us process and review your comments more efficiently, please 
use only one method. The Commission will post all comments on the 
Commission's Internet Web site (http://www.sec.gov). Comments are also 
available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 p.m. All comments 
received will be posted without change; we do not edit personal 
identifying information from submissions. You should submit only 
information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: Owen Donley, Chief Counsel; or Lori J. 
Schock, Director, Office of Investor Education and Advocacy, at (202) 
551-6500, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-2551.

Discussion

    Section 917 of the Dodd-Frank Act requires the Commission to 
conduct a study of financial literacy among investors and submit a 
report on the study to the Senate Committee on Banking, Housing, and 
Urban Affairs and the House of Representatives Committee on Financial 
Services no later than two years after enactment of the Dodd-Frank Act, 
that is, by July 21, 2012.
    The study mandated by Section 917 includes a number of specific 
components, including that the study identify: the existing level of 
financial literacy among retail investors; methods to improve the 
timing, content, and format of disclosures to investors with respect to 
financial intermediaries, investment products, and investment services; 
and methods to increase the transparency of expenses and conflicts of 
interest in transactions involving investment services and products. In 
addition, Section 917(a)(5) requires the study to identify ``the most 
effective existing private and public efforts to educate investors.'' 
The Office of Investor Education and Advocacy (``OIEA'') is currently 
reviewing existing private and public investor education efforts of 
which it is aware. The Commission is soliciting public comment to help 
ensure that the study includes all relevant programs, as well as to 
better understand the details and effectiveness of these programs.
    All interested parties, including those organizing or operating 
investor education programs and program attendees and participants, are 
invited to submit their views on one or more of the following 
questions:
    (1) Have you attended, or does your organization operate, organize, 
sponsor, promote, or host, any investor education programs? Please 
describe the program, including its duration, target audience, and any 
measurable goals and objectives aimed at changing investor behavior. 
What specific topics are covered in its curriculum?
    (2) What do you consider the most important characteristics of an 
effective investor education program?
    (3) What programs do you view as most effective?
    (4) Has your organization or an independent third party evaluated 
any of your organization's programs? If yes, please describe the 
findings of the evaluation, including any statistical evidence of how 
your program effectively changed one or more investor behaviors among 
participants.
    (5) Are any of your organization's programs national in scope? If 
not, could any of these programs be replicated or expanded to reach a 
national audience?
    (6) What types of investor behaviors or other topics do you think 
investor education programs should focus on? Why?
    (7) Which best describes you or your organization?

a. Public, Federal government
b. Public, State or local government
c. Not-for-profit
d. Foundation
e. Private/business
f. Individual
g. Other (describe)

    (8) Do you have any other comments regarding the effectiveness of 
existing private and public efforts to educate investors?

    By the Commission.

    Dated: April 19, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-9829 Filed 4-21-11; 8:45 am]
BILLING CODE 8011-01-P