‘Understanding Your Brokerage Account Statements’ Brochure Published in Spanish
WASHINGTON, DC (April 26, 2006)— The Securities Industry Association (SIA) and the North American Securities Administrators Association, Inc. (NASAA) today unveiled a Spanish translation of their joint publication “Understanding Your Brokerage Account Statements.”
This guide is intended to provide Spanish-speaking investors with tips on analyzing their monthly statements. It includes a frequently asked questions section, 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.
“SIA is committed to providing the most useful information in an accessible manner to all investors.” said SIA President Marc Lackritz.“The United States is home to the fifth largest Spanish speaking community in the world. Spanish is the second most spoken language in the United States after English — spoken by approximately 12% of the population (over 30 million people). Working in cooperation with our NASAA colleagues, this guide is an important step in promoting investor education among non-English speaking people. “
The launch of the Spanish translation of the publication coincides with Financial Literacy Month in April. Copies are available in pdf format on the NASAA website by clicking here or on the SIA website at www.sia.com.
“State securities regulators have a long tradition of providing investor protection through education,” said Patricia D. Struck, NASAA President and Wisconsin Securities Administrator. “We are pleased to work with the securities industry to reach out to the fast-growing, yet, underserved Spanish-speaking population in the United States. We believe it is important for all investors to be able to read and understand their brokerage account statements. This collaborative venture with the SIA also underscores our commitment toward reducing the risks of affinity fraud in the Spanish-speaking community by providing useful investor education resources.”
About The Securities Industry Association
The Securities Industry Association brings together the shared interests of approximately 600 securities firms to accomplish common goals. SIA’s primary mission is to build and maintain public trust and confidence in the securities markets. SIA members (including investment banks, broker-dealers, and mutual fund companies) are active in all U.S. and foreign markets and in all phases of corporate and public finance. According to the Bureau of Labor Statistics, the U.S. securities industry employs nearly 800,000 individuals, and its personnel manage the accounts of nearly 93-million investors directly and indirectly through corporate, thrift, and pension plans. In 2004, the industry generated $236.7 billion in domestic revenue and an estimated $340 billion in global revenues. (More information about SIA is available at: www.sia.com.)
About the North American Securities Administrators Association, Inc.
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.)
For More Information:
Director of Communications
Jeannie Bunton, SIA