On April 19, 2011 the Securities and Exchange Commission published a request for public comment (see link attached http://www.sec.gov/rules/other/2011/34-64306.pdf) on the effectiveness of existing investor education efforts as part of a review mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Commission is seeking public comment to better understand the details and effectiveness of current programs, and help ensure that the study includes all relevant programs. “We want to know more about what’s out there and what’s working in the world of investor education,” said Lori J. Schock, Director of the SEC’s Office of Investor Education and Advocacy.
As part of its investor education effort, the SEC recently upgraded its Investor.gov website devoted exclusively to investor education. The site has been redesigned and expanded with more information about a variety of topics including how to research investments and investment professionals, understand fees, and prepare for life events.
Obviously the SEC wants the investors to be more sophisticated. This process is not so much for hedge fund investors, which are by definition sophisticated, but for the retail investor. However, it will be interesting to see what the comments are and ultimately what if any pressure the SEC levy’s on the hedge fund industry regarding education.
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