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CSE and SEC ring bell for financial literacy

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The International Organization of Securities Commissions (IOSCO) recently launched its fifth annual World Investor Week campaign following campaigns that previously paved the way for financial organizations across the globe to showcase their initiatives for promoting investor education and protection.

The Ring the Bell for Financial Literacy Ceremony organized at CSE was part of a series of several initiatives organized in Sri Lanka for the World Investor Week campaign by the CSE and the SEC.

Delivering the opening remarks at the ceremony the Chairman of CSE, Dumith Fernando commented “As key stakeholders of the Sri Lankan financial space, SEC and CSE believe that we have a greater role to play in financial education and in promoting a more financially savvy population.”

“CSE has over 400 strategized initiatives throughout the year aimed at broadening investor knowledge and educating the public on how to take advantage of the capital market. Financial technology or Fintech is acting as a catalyst in revolutionizing financial markets around the world.”

The Chairman of the SEC, Viraj Dayaratne who spoke at the event noted the extensive effort made by the SEC towards educating the Sri Lankan investment community. He added “When you speak of education and awareness, its two-fold. One part of education is to ensure that investors or the general public move away from traditional means of savings to investments. So as far as education is concerned, that is a message that has to be taken to the masses. The next aspect is the protection of investors, once they come into the market and get involved with investments, it is our responsibility to ensure that their investments are safe.

“Investors need to educate themselves, gather information, and the sources that you gather information is very important because you have to gather that information/knowledge from the proper sources. If not your investments may not be safe. We have the Latin term ‘Caveat emptor’, which means Buyer Beware, like any other investment, you go to buy some goods from a store, you do some homework and you find out who has manufactured, is there a warranty, the brand and so on. You need to be mindful of that information when you decide to buy something. As a regulator, we can protect you, we have measures in place to protect you. But you need to look after yourself as well. You can’t make investments that are not safe and rely on the regulator or the stock exchange to look after you. You have to look after yourself. This is something that needs to be taken forward, not only at a time like this but throughout the year.”

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