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
Chairman
Mr. Pasquale Munafò, Senior Finance Professional, Commissione Nazionale per le Società e la Borsa, Italy
Vice-Chairman
Mr. Camille Beaudoin, Director, Financial Education Department, Autorité des marchés financiers, Quebec
Members (38)
Comissão do Mercado de Capitais, Angola
(Mr. Sebastião Manuel, Advisor of the Board of Directors, Chairman’s Office)
Comisión Nacional de Valores, Argentina
(Ms. Nadia Montenegro, Gerente, Gerencia de Gobierno Corporativo y Protección al Inversor)
Australian Securities and Investments Commission, Australia
(Mr. Gerard Fitzpatrick, Senior Executive Leader, International)
Financial Services and Markets Authority, Belgium
(Mr. Jim Lannoo, Head of Communications and Financial Education)
Comissão de Valores Mobiliários, Brazil
(Mr. José Alexandre C. Vasco, Director, Office of Investor Protection and Assistance)
China Securities Regulatory Commission, China
(Mi Zhou / Ms. Lixia Lin, Director of the General Affairs Office)
Autorité des marchés financiers, France
(Ms. Florence Corne, Deputy Director, Direction des relations avec les épargnants et de leur protection)
Bundesanstalt für Finanzdienstleistungsaufsicht, Germany
(Mr. Jörg Janotte, Senior Advisor, Consumer Protection / Marius Maaßen, Supervisor, International Consumer Protection)
Securities and Futures Commission, Hong Kong
(Michelle Yeung, Head of Investor Education and Communications, SFC Investor and Financial Education Council)
Securities and Exchange Board of India, India
(N. Hariharan, Chief General Manager / Girraj Prasad Garg, Executive Director, Office of Investor Assistance and Education)
Indonesia Financial Services Authority, Indonesia
(Mrs. Friderica Widyasari Dewi, Member of the Board Commisioners, Consumer Education and Protection / Mr. Cecep Setiawan, Deputy Director, Financial Literacy and Consumer Protection)
Israel Securities Authority, Israel
(Ms. Hadar Horen, Spokeswoman and Head of Investor Education Unit / Ms. Yael Beuchler, Head of Collaborations)
Commissione Nazionale per le Società e la Borsa, Italy
(Mr. Pasquale Munafò, Senior Finance Professional)
Financial Services Agency, Japan
(Mr. Daiki Sato, Officer, International Affairs Office, Financial Services Agency)
Jersey Financial Services Commission, Jersey
(Ms. Diane Maxwell, Executive Director of Policy and Risk)
Financial Services Commission/Financial Supervisory Service, Korea, Republic of
(Ms. Hae-min Hwang, Associate, International Affairs Department)
Commission de Surveillance du Secteur Financier, Luxembourg
(Mr. Patrick Hommel, Conseiller, Secrétariat Général)
Securities Commission, Malaysia
(Mr. Jawahar Ali Ameer Ali, General Manager, Consumer & Investor Office Department)
Comisión Nacional Bancaria y de Valores, Mexico
(Mrs. Vanessa Veintimilla, General Director for International Affairs)
Securities and Exchange Commission, Nigeria
(Sa’adatu Faruk, Senior Manager)
Ontario Securities Commission, Ontario
(Mr. Tyler Fleming, Director, Investor Office)
Comissão do Mercado de Valores Mobiliários, Portugal
(Ms. Ana Frasquilho, Senior Associate, Direção Supervisão Comportamental e do Investidor)
Autorité des marchés financiers, Quebec
(Mr. Camille Beaudoin, Director, Financial Education Department)
Financial Supervisory Authority, Romania
(Ms. Alexandra Bontas, Head of Service, Financial Monitoring and Education Service)
The Bank of Russia, Russia
(Ms. Daria Bezmenova, Head of International Best Practice Analysis Unit, Service for Consumer Protection and Financial Inclusion)
Capital Market Authority, Saudi Arabia
(Mr. Ali Aldakheel, Head of Media and Investor Awareness)
Monetary Authority of Singapore, Singapore
(Felicia Tan, Deputy Director, Corporate Finance and Consumer Department / Beverly Tan, Assistant Director, Corporate Finance and Consumer Department)
Financial Sector Conduct Authority, South Africa
(Elliot Modisa)
Comisión Nacional del Mercado de Valores, Spain
(Ms. Gloria Caballero Núñez, Deputy Director Financial Education Strategy and Institutional Relations)
Securities and Exchange Commission of Sri Lanka, Sri Lanka
(Mr. Tushara Jayaratne, Director External Relations and Capital Market Education External Relations and Capital Market Education)
Finansinspektionen, Sweden
(Mr. Lars Malmström, Director, Consumer Affairs)
Financial Supervisory Commission, Chinese Taipei
(Ms. Doris Lo, Section Chief, Securities Firm Division, Securities and Futures Bureau)
Securities and Exchange Commission, Thailand
(Ms. Sarica Apiwatthakakul, Director, Capital Market Education and Provincial Network Department)
Capital Markets Board, Turkey
(Ms. Müge Çetin, Senior Specialist, Corporate Finance / Mrs. Sanem Üzeler Demirağ, Legal Expert, Legal Department)
Financial Conduct Authority, United Kingdom
(Mr. Sam Stoakes, Global Institutions, International Division)
Commodity Futures Trading Commission, United States of America
(Ms. Dana Brown, Special Counsel, Office of International Affairs / Mr. Dan Rutherford, Associate Director, Office of Customer Education and Outreach)
Securities and Exchange Commission, United States of America
(Ms. Mary Head, Deputy Director, Office of Investor Education and Advocacy)
Financial Industry Regulatory Authority, United States of America
(Ms. Geraldine Walsh, Senior Vice President, Office of Investor Education)
Observers (2)
European Securities and Markets Authority, European Union
(Mr. Matteo Rava, Senior Policy Officer, Investor Protection and Intermediaries)
Japan Securities Dealers Association, Japan
(Mr. Yuya Nakase, Senior General Manager, Global Regulation Office)
