Committee on Retail Investors (Committee 8)

IOSCO believes the need for investor education and financial literacy has never been greater than today. As the financial marketplace continues to evolve and innovate, investment products are becoming increasingly complex and financial services increasingly diverse. Greater understanding of key financial concepts is required on the part of retail investors to understand and evaluate the choices available to them and to avoid financial fraud. Strengthening investor education and financial literacy programs also is essential at a time when responsibility for saving and investing for retirement is shifting from the employer to the individual in many jurisdictions.

In response to these challenges, the IOSCO Board approved the establishment of the Committee 8 on Retail Investors in June 2013. The Committee's primary mandate is to conduct IOSCO's policy work on retail investor education and financial literacy. Its secondary mandate is to advise the IOSCO Board on emerging retail investor protection matters and conduct investor protection policy work as directed by the IOSCO Board.

In November 2014, Committee 8 published a final report on the Strategic Framework for Investor Education and Financial Literacy, which describes IOSCO's role in promoting investor education and financial literacy and its strategic approach to both.

Members of Committee 8


Mr. Pasquale Munafò, Senior Finance Professional, Commissione Nazionale per le Società e la Borsa, Italy


Mr. Camille Beaudoin, Director, Financial Education Department, Autorité des marchés financiers, Quebec

Members (38)

Comissão do Mercado de Capitais, Angola

Comisión Nacional de Valores, Argentina

Australian Securities and Investments Commission, Australia

Financial Services and Markets Authority, Belgium

Comissão de Valores Mobiliários, Brazil

China Securities Regulatory Commission, China

Autorité des marchés financiers, France

Bundesanstalt für Finanzdienstleistungsaufsicht, Germany

Securities and Futures Commission, Hong Kong

Securities and Exchange Board of India, India

Indonesia Financial Services Authority, Indonesia

Israel Securities Authority, Israel

Commissione Nazionale per le Società e la Borsa, Italy

Financial Services Agency, Japan

Jersey Financial Services Commission, Jersey

Financial Services Commission/Financial Supervisory Service, Korea, Republic of

Commission de Surveillance du Secteur Financier, Luxembourg

Securities Commission, Malaysia

Comisión Nacional Bancaria y de Valores, Mexico

Securities and Exchange Commission, Nigeria

Ontario Securities Commission, Ontario

Comissão do Mercado de Valores Mobiliários, Portugal

Autorité des marchés financiers, Quebec

Financial Supervisory Authority, Romania

The Bank of Russia, Russia

Capital Market Authority, Saudi Arabia

Monetary Authority of Singapore, Singapore

Financial Sector Conduct Authority, South Africa

Comisión Nacional del Mercado de Valores, Spain

Securities and Exchange Commission of Sri Lanka, Sri Lanka

Finansinspektionen, Sweden

Financial Supervisory Commission, Chinese Taipei

Securities and Exchange Commission, Thailand

Capital Markets Board, Turkey

Financial Conduct Authority, United Kingdom

Commodity Futures Trading Commission, United States of America

Financial Industry Regulatory Authority, United States of America

Securities and Exchange Commission, United States of America

Observers (2)

European Securities and Markets Authority, European Union

Japan Securities Dealers Association, Japan