Struck: ‘The need for financial education in the United States has never been greater.’

WASHINGTON (April 7, 2006) — The following is a statement from North American Securities Administrators Association President and Wisconsin Securities Administrator Patricia D. Struck on the passage of Senate Resolution 410 and House Resolution 737, supporting the goals and ideals of Financial Literacy Month. NASAA is the oldest international organization devoted to investor protection. NASAA’s membership consists of securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico.

“NASAA commends the Senate for passing S. Res. 410 and the House of Representatives for approving H. Res. 737, which support the goals and ideals of Financial Literacy Month. We appreciate the efforts of Sen. Daniel Akaka (D-HI) and 18 bipartisan Senate cosponsors, as well as Reps. Judy Biggert (R-IL) and Rubén Hinojosa (D-TX) and 89 bipartisan House cosponsors, for sponsoring these important investor education resolutions and bringing much needed attention to the issue of financial literacy.

“The need for financial education in the United States has never been greater.  With a majority of Americans investing in our capital markets, there is a growing obligation to ensure our citizens are equipped with a basic understanding of the principles of savings and investing and the ability to recognize and avoid financial fraud.

“State securities regulators have a long tradition of protecting investors through education, and many have established an investor education department within their regulatory agency. In recognition and celebration of April as Financial Literacy Month, state securities administrators and their staffs will visit schools throughout their states to teach students about personal finance, the capital markets, investment choices, and fraud.

“Reaching out to our young citizens is just one component of the ongoing financial education effort undertaken by state securities regulators. We are dedicated to improving financial literacy for our constituents of all ages, recognizing that financial education has a direct impact on the economic health of our families, communities, states, and the nation overall.”

For More Information:
Bob Webster
Director of Communications
202-737-0900