SEC emphasizes financial planning

The Securities and Exchange Commission highlights the importance of long-term financial planning during World Investor Week 2022.

The SEC is the US coordinator for the event, a global effort promoted by the International Organization of Securities Commissioners (IOSCO) that began yesterday and will run through October 9.

The SEC will host awareness events highlighting the importance of creating an emergency fund, avoiding high interest debt, researching investment opportunities, understanding investment risks, portfolio diversification and fraud prevention, the agency said in a statement.

“Investor protection is at the core of our mission at the Securities and Exchange Commission, and we are honored to be the U.S. National Coordinator for World Investor Week,” said SEC Chairman Gary Gensler. in a prepared statement.

The SEC is coordinating its efforts with the Commodity Futures Trading Commission, the Financial Industry Regulatory Authority, the National Futures Association and the North American Securities Administrators Association, which have jointly issued a new Investor Bulletin on the most important steps investors can take to build and protect a nest egg, including the need to diversify.

To highlight the risk of investing solely based on celebrity endorsements, the agency created a new video featuring Gensler advising investors that some of the advertised investments may not be real and if they are, they may not be suitable for all investors.

Gensler included the video on her Twitter post about reality TV star Kim Kardashian’s settlement with the agency for touting a cyber coin on her Instagram account without revealing that she was paid $250,000, which counts. 331 million subscribers. Kardashian paid $1.26 million to settle the allegations, without admitting or denying the SEC charges.

Other key events include:

• Online investment presentations for senior investors, military service members, students and teachers.
• Investor education events for students, including events at historically black colleges and universities.
• A live Facebook event with AARP.
• Radio interview on topics important to older investors.
• Discussion on savings plan for federal employees.