Investor education continues to be a key priority for the Securities Commission, while investor empowerment has been identified as one of the key strategic thrusts for the capital market, says Datuk Syed Zaid Albar, Securities Commission (SC) Chairman at the launch of the annual flagship investor education event, InvestSmart Fest 2021 event today.
“Investment scams continue to be a source of concern for the SC. For the nine months period to September 2021, the SC has received over 2,000 queries and complaints about illegal investment schemes, which is more than double the total number reported in 2020. We constantly remind investors to exercise caution while helping investors to become more aware of fraudulent investment schemes,” Syed Zaid says.
The SC is prioritising investor education and empowerment as part of its plans to enhance financial inclusion and increase market accessibility to a wide range of investors with this eighth instalment of InvestSmart® Fest, which will be held virtually from 8 to 10 October 2021.
It coincides with the Financial Education Network’s (FEN) Financial Literacy Month 2021 and the IOSCO World Investor Week 2021, a global effort among capital market regulators to raise awareness about the importance of investor education and empowerment.
Introduced in 2014, InvestSmart® Fest is part of SC’s investor education efforts focused on enhancing financial and investment literacy. Moving forward, the SC will continue to carry out initiatives in support of the FEN’s Malaysia National Strategy for Financial Literacy, to elevate financial literacy among Malaysians and promote responsible financial and investment behaviour.
Underscoring the need for greater investor education is the sharp increase in the number of scams and other illegal investment schemes, particularly as access to the digital economy grows.
Themed #JagaDiri #JagaPelaburan, this year’s InvestSmart® Fest will feature talks by licensed investment advisers and industry experts who will share insights on investment and financial management, retirement planning, and Shariah and digital investment opportunities.
In addition, the public can benefit from free financial planning sessions with licensed financial planners through #FinPlan4u, which will also be held online from 4 until 10 October 2021. Furthermore, the public will have the opportunity to win an eWallet reload PIN through lucky draw giveaways and pop quizzes held throughout the 3-day event.