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March 30, 2000
District Agency Promotes National Investor Education Campaign
WASHINGTON, DC, March 30, 2000 - The District of Columbia Department of Insurance and Securities (DISR) is taking part in a national investor education campaign during the month of April, to help raise financial IQs and protect District residents against the growing problem of securities fraud.
"The month-long investor education campaign, dubbed the Facts on Saving and Investing, is a joint effort of state and federal securities regulators, federal government agencies and private sector organizations," said Larry Coates, Acting Director of the DISR Securities Bureau.
As part of the campaign, DISR is hosting teacher-training workshops for senior high school teachers in the District, promoting the Financial Literacy 2001 (FL2001) program. "Never has investor education been more important," said Mr.Coates. "Today we are a nation of investors. A generation ago less than 20 percent of households were invested in the stock market; today nearly half of all households own stock."
FL2001 is a non-commercial program sponsored by the non-profit Investor Protection Trust (IPT), the National Association of Securities Dealers (NASD) Office of Individual Investor Services, and the North American Securities Administrators Association (NASAA) to increase the high school student's understanding of personal finance. The program accomplishes this goal by giving senior high school teachers the tools they need to teach personal finance in the classroom free of charge.
Nationally, the Facts on Savings and Investing campaign will be kicked off by a panel discussion at the National Press Club in Washington, DC about how financially well -- or ill--prepared baby boomers are for retirement. Statistics indicate that while nearly three-quarters of Americans are saving for retirement most have little idea of how much money they will need to replace income when they retire. "With Americans living longer than ever, retirement security is a serious national issue," said Mr.Coates.
For more information about local activities, contact Joan Daggett, at 202-442-7855 or email. | 
