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FINRA Foundation and Partners Discuss Plans for 2018


– Hello, I’m Kenneth Edward
Piner at FINRA headquarters in Washington, DC, where the
FINRA Investor Education Foundation met for its final
meeting of 2017. Its mission is to support
innovative and educational projects that give underserved
Americans the knowledge skills and tools necessary
for financial success throughout life. As part of the meeting, they
heard from many foundation partners who focused on the work for the
year ahead to finalize plans for 2018. One of the action items we
considered was a project to increase the awareness of
the National Financial Capabilities Study. – It was the first study in this
country that was conceived to try to cover all aspects of individuals’
financial capability. We’ve been doing it since 2009. So, we have this time series
data that dates back to the financial crisis. The FINRA
Foundation has been a tremendous sponsor of this research, not
just as funders, but as participants, as creators, as
analysts. – With this information we can
design better programs, we can do better policies, and we can do better to inform
and improve the financial capability of
all Americans. – Amy Nofziger, who is with the AARP
Foundation out in Colorado, came and spoke with the board. – Our volunteers will introduce
themselves and say they are with the AARP Foundation making
public service calls to warn people about investment
fraud. So we’re actually taking the scammers’
tactics that they use but we’re using them for good. In 2017, we called over
180,000 people. – Jim Foley from the National
White Collar Crime Center, joined us to talk about the Targeting Investment Fraud
program. The babyboomers that are
turning 65 are becoming a lucrative victim pool. I think the more that law
enforcement can understand the prevention side, I think
those things are really important for law enforcement
to know. Partnerships are critical to the
Foundation’s work, because we’re only 12 people. So,
we’re able to expand our resources, their resources to
reach a much broader audience. And the projects discussed will
help the foundation reach its investor education objectives
in 2018. In Washington for FINRA,
I’m Kenneth Edward Piner.

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