[9799]
March 26, 1998
TO: BOARD OF GOVERNORS No. 17-98
RE: Update on
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As we previously informed you (see Institute Memorandum to Board of Governors 8-98,
February 18, 1998), the SEC, NASAA, and the Department of Labor have coordinated a week of
nationwide activities devoted to investor education, beginning March 29. Many ICI members
have planned their own events during this week. In addition, the Institute has developed a
variety of materials to support these efforts.
The SEC has asked state regulators to sponsor local programs throughout the week. The
nature, organization, and extent of these programs vary widely and there is limited information
about them. For information about individual state initiatives, contact Marc Beauchamp at
NASAA: (202) 737-0900, mb@nasaa.org, or see the list of state activities and contacts accessible
from the home page of SEC’s website, http://www.sec.gov.
National Roundtable. On Monday, March 30, Institute Chairman Don Powell will
participate in a Washington, DC National Roundtable of industry, media, consumer, and
government leaders discussing saving and investing issues.
Mutual Fund Module at Local Town Meetings. At the request of SEC staff or state
securities regulators in California, Delaware, Georgia, Iowa, Maine, Maryland, Massachusetts,
Michigan, and Minnesota, Institute members are participating in local town meetings. Senior
executives from member firms present an SEC-approved mutual fund module the Institute
developed specifically for use at town meetings.
Companion Video and Brochure. The Institute has developed a video, "Understanding
Mutual Funds," with an introduction by Chairman Levitt and a brochure, "A Guide to
Understanding Mutual Funds" for use with the mutual fund module. These will be distributed
during saving and investing week and will support Institute investor awareness programs
thereafter. The module, brochure, and video are all based on the 9 key items of information
covered in the recently announced fund Profile. The brochure and video will be distributed to
the public at town meetings across the country, by the SEC, through the media, and to schools
and libraries. They will also be available for purchase at cost; a copy of the brochure is enclosed.
Video News Releases. Chairman Levitt and DOL Assistant Secretary Berg are among
those featured in a three-part series of video news releases that ICI will send to television
stations for airing at their discretion. The videos address: 1) Establishing Realistic Stock Market
Expectations; 2) Getting Started with Retirement Planning; and 3) Understanding Your
Retirement Needs.
Radio Programming. The Institute’s twice-weekly program, "The Informed Investor,"
which provides free radio programming to stations across the country and is accessible from
ICI’s website, will produce five spots during "Saving and Investing Week."
Investor Awareness Section on Public Website. An "investor awareness" icon on the
home page of the Institute’s public website links to the mutual fund module, radio spots, and
investor brochures, as well as extensive information from the SEC about "Saving and Investing
Week," including daily themes, guidelines for participation, and research on financial illiteracy.
Media Outreach. USA Today, the SEC’s media partner, will launch the campaign with
extensive coverage on Friday, March 27.
National Town Meeting. On Saturday, April 4, a National Town Meeting featuring
Chairman Levitt will be broadcast from Washington, DC to downlink sites across the country
using USDA’s national satellite network. The Institute will participate in this meeting. A list of
downlink sites is accessible from the SEC’s website.
Julie Domenick
Senior Vice President Public Affairs
Enclosure