CySEC: Financial literacy is essential for investor protection | Stockwatch
The World Investor Week 2022 events concluded successfully with a high level of participation.
This year’s global financial literacy campaign events, World Investor Week 2022 (WIW2022), concluded successfully with a high level of attendance. Once again, the Cyprus Securities and Exchange Commission (CySEC) has partnered with supervisory authorities around the world to educate investors and educate them on the importance of financial literacy. More than a hundred countries represented by their Supervisory Authorities, as well as eleven regional and international organizations, took part in this year’s activities, which focused on financial education and the protection of investors and the general public.
This year marks the sixth edition of World Investor Week, organized by the International Organization of Securities Commissions (IOSCO) between 3rd and 9e of October. The campaign aimed to raise awareness about the financial resilience of investors and sustainable finance, while highlighting the various initiatives undertaken by supervisory authorities and other organizations in these two crucial areas.
Throughout the week, CySEC conducted a series of activities to inform and educate investors about the potential risks of investments, the importance of proper investment behavior and how to make sound financial decisions. Emphasis was also placed on the importance of educating the public on basic financial matters.
Specifically, CySEC issued press releases to inform the public about WIW2022, disseminate key campaign messages, and communicate CySEC’s participation and activities undertaken. Additionally, CySEC uploaded the WIW2022 logo in a prominent position on its website throughout the campaign, with an active link to the official World Investor Week website, where the public could find information. more detailed and be informed of the activities taking place around the world. In addition, the portal included useful information for investor protection. CySEC also issued an informative email to all its licensed entities, encouraging them to participate in the campaign by placing the campaign logo on their respective websites.
Additionally, CySEC Chairman, Dr. George Theocharides made relevant appearances on television and radio, relaying key campaign messages and CySEC actions to educate investors, while highlighting the importance of financial literacy for the protection of investors and the general public.
As part of WIW2022, CySEC has created and posted on its website a new Investor Protection Booklet containing practical advice regarding investor protection. In addition, it published on all major Cypriot media its new Investors Guide to Financial Resilience; one of the two main messages communicated during this year’s campaign. Additionally, a featured article on the risks of crypto assets, authored by Dr. Theocharides, was featured in the media in Cyprus and abroad.
In addition, throughout the Week, through social media, CySEC produced a series of messages to spread the main messages, in the form of key advice on financial matters. The posts were aimed at raising awareness, primarily targeting the younger generation, who often turn to social media for investment information. In this spirit, CySEC has created a Facebook page with the aim of informing the general public on financial matters.
Additionally, several CySEC officers participated in international webinars that were held during the Week, on financial literacy topics such as financial resilience and sustainable finance. In addition, CySEC has proceeded with the creation of an online quiz, where investors can test their knowledge of basic financial concepts relating to capital markets, while gaining knowledge. The quiz will be posted on the CySEC website in the coming days.
Cash scholarship to two students in economics/finance
As part of its strategic efforts to promote and strengthen financial literacy in Cyprus, especially among the younger generation, CySEC has decided to award two students from public and private universities. In particular, CySEC will provide an annual cash scholarship in the amount of €1000 to two students from the departments of Economics/Finance. Aiming for transparency and meritocracy, CySEC calls on all public and private universities in Cyprus to participate in these awards, offering all students in economics/finance departments the opportunity and right to participate.