Yemisi Izuora
The International Organization of Securities Commissions (IOSCO) is preparing to launch its third annual World Investor Week (WIW) from 30 September to 6 October 2019, after its successful organization in 2017 and 2018.
The WIW is a week-long, global campaign, which aims to promote investor education and investor protection, highlighting the various initiatives of securities regulators in these two critical areas. IOSCO members will provide, in their jurisdictions, a wide variety of activities such as launching publications or services, promoting contests and organizing workshops, conferences and other events.
Many members leverage the event to organize further investor education activities throughout the year.
Given today’s digital environment, the WIW 2019 includes key messages regarding online investing, digital assets and Initial Coin Offerings, as well as re-emphasizing the basics of investing.
In last year’s WIW, IOSCO members and stakeholders from some 90 jurisdictions on six continents undertook a range of activities, such as offering investor-focused information and services, promoting contests to increase awareness of investor education initiatives, organizing workshops and conferences and launching local/national campaigns in their jurisdictions.
According to Acting DG SEC, Ms. Mary Uduk, the SEC is determined to ensure capital market investors are adequately protected in all transactions and that is the reason why the Commission has stepped up enlightenment campaigns on some of its initiatives.
She said “As you are aware, we have a number of initiatives that we have put in place to boost investors’ confidence. We have the e-dividend Mandate Management System, the Direct Cash Settlement as well as regularisation of multiple subscriptions in place.
“Considerable progress has been made in the implementation of the consolidation of multiple shareholder accounts and electronic Dividend Mandate Management System (e-DMMS) as so far about 3.4bn shares have been consolidated.Both measures were introduced as part of checking the growth and possibly eliminating the unclaimed dividend menace in our capital market”.
She stated that investors are also protected through the National Investors Protection Fund (NIPF) and the Risk Based Supervision that enables the commission to supervise operators to do the right thing.
“We have a complaints management framework that enables investors to know where to complain to and how long it takes for such complaints to be resolved. We are committed to protecting investors in the work we do. We will keep working on our rules and the possibility of amending them when the need arises, we want more transparency in the market so that investors will feel comfortable and the market can be better”. She added
Ashley Alder, Chair of the IOSCO Board and the Chief Executive Officer of the Hong Kong Securities and Futures Commission, said, “I welcome this third edition of the World Investor Week which evidences IOSCO’s continuous efforts and commitment to investor education and protection, encouraging new initiatives among IOSCO members and preparing them for dealing with the challenges of increasingly interconnected and digitalized capital markets.”