Introduction
- First of all, I would to thank Jean-Paul Servais (Chairman of FSMA) for inviting me today and the National Bank of Belgium for hosting us.
- I would also like to say that I am delighted to speak today in the context of the IOSCO World Investor Week, a very valuable initiative which, I know, is close to the heart of Paul Andrews (Secretary General of IOSCO).
- This “Week” offers a unique opportunity to regulators across the globe, through a variety of initiatives, to increase awareness on the importance of financial education.
- Today, I will talk about financial education and investor protection: I will notably discuss how these two topics are complementary and interconnected.
- Financial education is an issue for every segment of the population including people with a high level of education.
- A survey on financial literacy ran by the OECD in 2016, which has included 13 Member States of the Union, shows that in 11 of them, less than 40% of the adult population is able to understand very basics principles such as compound interest. In five of these Member States, this figure is equal or below 30%.
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