FOR IMMEDIATE RELEASE 97-111 SEC Press Contact: John J. Nester (202) 942-7083 First-Ever Hemisphere-Wide Investor Education Campaign Planned Campaign will promote financial literacy, economic growth Washington, D.C., December 15, 1997 -- The U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and securities regulators throughout the Americas will launch a first-ever international "Saving and Investing Education Week" early next year (March 30 - April 3, 1998) to promote the importance of saving, investing, and avoiding securities fraud. Because the needs of individual investors vary widely throughout the Western Hemisphere, each of the participating countries--from Canada to Chile--will identify its own domestic priorities and conduct its own initiatives under a unified campaign theme. "Safe, strong and vibrant markets are the result of investors who understand how to save and invest wisely. It's that simple," said SEC Chairman Arthur Levitt. "State securities regulators, working with the SEC, will do all we can to help make this the most exciting and comprehensive investor education effort ever," said Denise Voigt Crawford, NASAA President. U.S. activities, which will augment existing investor education efforts at the state and federal level, will include a series of Investors' Town Meetings, investment seminars, workshops and in-school programs. The SEC and NASAA will work with other government agencies, consumer organizations, non-profit industry groups, and the media to deliver the broadest range of educational programs to the widest possible audience. Details of the U.S. plan will be announced in January. Established by the Council of Securities Regulators of the Americas (COSRA), the educational campaign reflects COSRA's acknowledgment that job growth and economic stability depend on individual investors making informed decisions about their savings and investments. COSRA's Chairman Daniel Yarur said investor education is an essential part of investor protection and that investors should be aware of the risks and rewards of investing. Mr. Yarur is Chairman of the SVS, the Securities and Insurance Commission of Chile. COSRA Vice-Chair Francisco Costa e Silva said, "This campaign is especially appropriate when you consider the growing number of new investors emerging in the region's capital markets, stemming from privatization programs, participation of employees in the stock of companies, and private pension plans. Investors should be provided with the necessary tools to make informed decisions, which will foster their own financial security as well as the sustained development of our markets." Mr. Costa e Silva is the Chairman of the CVM, the Securities Commission of Brazil. COSRA's membership includes securities regulators from 26 nations in North, Central and South America, and the Caribbean. The SEC administers federal securities laws, promoting fair and honest securities markets. NASAA represents the state, provincial and territorial securities administrators in the 50 states, the District of Columbia, Puerto Rico, Canada and Mexico responsible for efficient capital formation and grassroots investor protection. Press contacts by country: Argentina Emilio Ferre 541-329-4747 Bahamas Sandra Duncombe 242-356-6291/2 Barbados Virginia Mapp 246-436-9871 Bolivia Moira Acouri Mallky 5912-39-0878 / 2574 Brazil Ricardo Gontijo 55-21-212-0235 Canada Ontario Nancy Stow 416-593-8297 Quebec Marie-Noelle Berube 514-873-5009, ext. 275 Chile Nicholas Roman 562-549-5841 El Salvador Selina Vieytez 503-281-8912 Jamaica Earl Melhado 876-967-4228/9 Mexico Alejandro Ramas 525-724-6571 Peru Carlos Rivero 5114-227-209 Trinidad and Tobago Gloria Rolingson 809-624-3017/2991 U.S. SEC John Nester 202-942-7083 NASAA Neal Sullivan 202-737-0900 # # #