International initiative to protect investing public

The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investor Week, a global campaign seeking to educate and protect investors.

Through its participation in World Investor Week, CySEC wants to inform the investing public about the types of risks lurking in the sector, as well as highlighting the importance of educating the public in basic financial knowledge, an area in which Cyprus lags behind.

“World Investor Week 2021 is a prime opportunity to raise awareness among both investors and the general public about the various risks involved, while also stepping up our efforts to keep people informed,” CySEC chairman George Theocharides said.

“Prevention is the most effective way to minimise risks to investors and this is the direction in which the commission will be moving, especially during this unstable economic environment, in which the digitisation of financial services is accelerating,” Theocharides added, stressing that the promotion of financial literacy is crucial.

Organised by the International Organization of Securities Commissions (IOSCO), an association consisting of organisations that regulate the world’s securities and futures markets, this year’s World Investor Week revolves around two core themes, sustainable finance and frauds and scams prevention.

“These messages complement those of previous IOSCO World Investor Week editions, such as online investing, initial coin offerings, the basics of investing, and digital learning and online education,” IOSCO said in a statement.

“This annual global initiative has effectively disseminated key investor protection messages worldwide particularly at a time when a growing number of retail investors are participating in securities markets,” IOSCO Board Chairman and Chief Executive Officer of the Hong
Kong Securities and Futures Commission Ashley Alder said.

“Despite the pandemic, the IOSCO WIW´s educational initiatives continue to play a critical role in fostering confidence in the markets and protecting retail investors,” Alder added.

During the week-long campaign, CySEC will take part in a number of initiatives aimed at both investors and the general public.

The commission’s activities include the publication of a brief investor guide, with easy to use and practical advice on how to identify risks in time and avoid being defrauded.

The guide will be published on the CySEC website’s investor protection section.

In addition, the commission will also amplify this year’s core messages through social media posts, framed in guideline form.

Following the completion of World Investor Week, these will be added to the Smart Investor Booklet which will be made available on the CySEC website.

The commission has also added the World Investor Week logo on their homepage, through which visitors can click to access the WIW website.