SEC Encourages Investors to Choose Their Information Sources Wisely During World Investor Week

Washington, D.C.--(Newsfile Corp. - October 7, 2024) - The Securities and Exchange Commission today announced it will encourage investors to choose their information sources wisely during World Investor Week (WIW) 2024, which takes place Oct. 7-13. Whether investors are researching an investment professional or deciding which investments help them meet their financial goals, it’s important for them to get their information from unbiased and trusted sources.

This marks the eighth year of WIW, a global effort promoted by the International Organization of Securities Commissions that brings together regulators on six continents to raise awareness about the importance of investor education and investor protection. As in previous years, the SEC is serving as the national coordinator in the U.S., working with the Commodity Futures Trading Commission, Financial Industry Regulatory Authority, Securities Investor Protection Corporation, National Futures Association, and North American Securities Administrators Association. Together with these organizations, the SEC’s Office of Investor Education and Advocacy issued a joint Investor Bulletin today to promote WIW's key initiatives.

During WIW, SEC staff throughout the country will host investor education outreach events highlighting the basics of saving and investing, as well as providing information about: the importance of conducting background checks on investment professionals; monitoring and securing investment accounts; avoiding unsolicited investment pitches; the role of finfluencers (influencers who leverage social media to share information about finances, including investing); and using investing apps. They will also provide information about the latest trends in investment fraud, such as relationship investment scams, which are sometimes referred to by various terms including romance scams, “cryptocurrency” investment scams, financial grooming scams, and others who refer to it as “pig butchering” scams.

“Investor protection is at the very core of the SEC’s three-part mission,” said SEC Chair Gary Gensler. “I encourage investors to participate in our outreach events during World Investor Week and to take advantage of the resources on our Investor.gov website.”

“Hype around emerging technologies such as AI, finfluencers, social media, and aggressive investing marketers can make it challenging for investors to know where to turn to for help,” said Lori Schock, Director of the SEC’s Office of Investor Education and Advocacy. “A good place to start is Investor.gov, which provides free, accurate, unbiased information and financial planning tools to help you invest wisely and better protect yourself against investment fraud.”

For WIW, Ms. Schock posted a new Director’s Take article, “Finfluencers, Celebrities, Social Media: Should You Listen To Them?” The article encourages investors to conduct their own independent research before investing and to proceed with caution if they’re contemplating making investment decisions based solely on information from social media kinds of sources.

The SEC’s WIW page highlights messaging on investor education and protection and includes a quiz that investors can take to test their knowledge of key investing concepts.

Each day of WIW, the SEC will be conducting outreach events across the country – both in-person and virtually – including the following:

• Saving, investing, and fraud protection presentations for older investors, new investors, military service members and their families, veterans, teachers, underserved communities, and those reentering back into society;
• Classroom activities for high school and college students, including events at Historically Black Colleges and Universities;
• Radio interview on topics important to older investors; and
• Thrift Savings Plan program for federal employees.