SEC to launch initaive to promote financial education for teachers, service members

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The Securities and Exchange Commission (SEC) is launching two new initiatives designed to protect retail investors.

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They are the Teachers’ Initiative and the Military Service Members’ Initiative, which seek to provide better investor education resources for teachers, veterans, and active duty military personnel.

“Teachers, active duty military, and veterans provide tremendous service to our country, often at great personal and financial sacrifice to themselves and their families, yet far too often are targeted and fall victim to securities fraud and other misconduct,” SEC Chairman Jay Clayton said. “These new initiatives reflect the Commission’s dedication to fighting fraud and to educating retail investors. My colleagues and I are particularly focused on ensuring that our teachers, veterans, and active duty military, who often leave financial planning to others, know the financial services they are getting, what they are paying for those financial services, and to call us if something doesn’t seem right.”

The initiatives will be led by the Enforcement Division’s Retail Strategy Task Force and the SEC’s Office of Investor Education and Advocacy.

“The Enforcement Division is committed to fighting for our country’s educators, service members, and veterans, who may be vulnerable to fraud in the securities markets,” Steven Peikin, co-director of the SEC’s Enforcement Division, said.

The initiatives will increase outreach to these groups to educate them about savings and investment, investment fees and expenses, retirement programs specific to educators and service members. Further, they will provide education on the red flags of investment fraud.

“Education is the cornerstone of investor protection, and we have no more important constituents than our teachers and members of the military,” Lori Schock, director of the SEC’s Office of Investor Education and Advocacy, said.  “We look forward to working together to help these important groups make the best investment decisions right for them – and protect themselves from fraud.”

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