NASAA, SIFMA, and SIPC Join to Promote Investor Education With Updated “Understanding Your Brokerage Statement” Brochure

Free Brochure Available in English and Spanish

WASHINGTON, D.C. (March 7, 2007) – The Securities Industry and Financial Markets Association (SIFMA), the North American Securities Administrators Association, Inc. (NASAA) and the Securities Investor Protection Corporation (SIPC) today released updated editions of the popular investor education resource, “Understanding Your Brokerage Account Statements.”  The publication is available in English and Spanish.

The guide, which provides investors with tips on analyzing their monthly statement, includes new content on fee based accounts, as well as answers to frequently asked questions, details on common features of most brokerage account statements, a step-by-step checklist on how to review them, and an extensive glossary of investment terms that investors may come across while reviewing their statements.

“SIFMA is committed to providing the highest quality educational resources for investors,” said SIFMA co-CEO Marc Lackritz.  “We look forward to working with our colleagues at NASAA and SIPC on other initiatives that help investors be more informed, ask great questions, and better understand the fundamentals of how the markets work.”

“State securities regulators have an ongoing obligation to help all of our constituents develop the knowledge they need to make good personal financial decisions,” said Joseph P. Borg, NASAA President and Director of the Alabama Securities Commission. “This joint effort with SIFMA and SIPC reflects our fundamental belief that financial education is the first and best defense against financial exploitation.”

“Our goal is to reach investors in both English and Spanish in order to create the widest and clearest understanding of how brokerage statements work and what they tell you,” SIPC President Stephen Harbeck said.  “In cooperation with NASAA and SIFMA, we hope to continue to provide high-quality educational materials for investors so they are as well-informed as possible.”

Copies are available in pdf format on the SIFMA’s website at www.sifma.org, the NASAA website at www.nasaa.org and the SIPC website at www.sipc.org.

About SIFMA 
The Securities Industry and Financial Markets Association brings together the shared interests of more than 650 securities firms, banks and asset managers. SIFMA’s mission is to promote policies and practices that work to expand and perfect markets, foster the development of new products and services and create efficiencies for member firms, while preserving and enhancing the public’s trust and confidence in the markets and the industry. SIFMA works to represent its members’ interests locally and globally. It has offices in New York , Washington D.C., and London and its associated firm, the Asia Securities Industry and Financial Markets Association, is based in Hong Kong .

About NASAA
The North American Securities Administrators Association, Inc. (NASAA) is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico. (More information about NASAA is available at www.nasaa.org.)

ABOUT SIPC
From the time Congress created it in 1970 through December 2005, the Securities Investor Protection Corporation (www.sipc.org) advanced $585 million in order to make possible the recovery of $14.2 billion in assets for an estimated 624,000 investors. Although not every investor is protected by SIPC, the Securities Investor Protection Corporation estimates that no fewer than 99 percent of persons who are eligible have been made whole in the failed brokerage firm cases that it has handled to date.

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Contacts:  
Bob Webster, NASAA (202)737-0900
Jeannie Bunton, SIFMA (202) 216-2067
Ailis Aaron Wolf, for SIPC (703) 276-3265

2007 Headlines, Newsroom