Need for Trinidad and Tobago to learn about investments, finances — SEC launches investor education roadshow

RESIDENTS of Chaguanas, along with members of the business community, financial educators and key stakeholders, celebrated the launch of the Investor Education Community Outreach Roadshow Series.

The programme, which aims to protect investors and promote financial literacy was held at the Chaguanas Borough Corporation on November 20. Its focus was to make investor education more accessible and relevant by directly engaging with local communities.

Kester Guy, CEO of the TT Securities and Exchange Commission (SEC), in his address at the launch, stressed the initiative's critical role in protecting investors and ensuring the financial market remains fair, transparent and trustworthy.

He underscored the importance of fostering confidence in TT's financial system, acknowledging that achieving these goals could not be done in isolation. He called for the collective support of the community and institutions involved in the financial sector.

He explained that through collaboration with key stakeholders such as the Central Bank, the Securities Dealers Association, the Mutual Fund Association, local government bodies and NGOs, the initiative could bring about long-lasting change.

Guy described the series as a vital component of a broader strategy to extend the reach of investor education, saying it represents a commitment to stepping beyond traditional settings like classrooms and offices and engaging with communities directly.

He said the goal is to meet people where they are and offer practical financial knowledge tailored to their unique needs and experiences, thereby enhancing the relevance and accessibility of investor education.

Guy believes investor education is not just about technical terms or numbers, but about understanding core financial principles such as diversification, the risks of unregulated investments and the importance of prudent financial planning. He reiterated the need for awareness of potential risks, particularly in cases where the TTSEC identifies harmful practices or schemes that could threaten investors.

By working together, he said, the initiative could significantly extend its reach and ensure communities and groups actively participate in financial discussions. He emphasised the importance of inclusiveness in this effort, aiming to make educational programmes more appealing and relevant to all segments of society.

Guy concluded by saying the series is not just about imparting financial knowledge but about shifting mindsets and fostering a culture and society where people feel empowered to ask questions, verify the legitimacy of investment opportunities and exercise caution when faced with offers that seem too good to be true.

“Informed investors are better protected, and knowledge is crucial in a rapidly changing financial landscape.”

Chaguanas mayor Faaiq Mohammed, in brief remarks, also described the initiative as critical for promoting financial literacy and awareness, highlighting its role in protecting communities from the risks of financial fraud, scams and unfair practices.

"Issues that have impacted not only people in Chaguanas but across the globe.”

Mohammed said fraudulent schemes promising high returns with little to no risk often prey on the trust of vulnerable citizens seeking better financial opportunities. These scams frequently result in collapse, leaving families devastated, their savings wiped out and trust in financial systems shattered.

He discussed the rise of cryptocurrencies, scams and online trading platforms, which he said have exposed the dangers of investing in poorly understood or unfair financial products.

He mentioned the collapse of the CL Financial empire caused by major mismanagement at the executive level saying it served as a stark reminder of the severe consequences of financial mismanagement, lack of accountability and insufficient oversight.

"Thousands of investors, pensioners and policyholders were left uncertain about their futures, underscoring the urgent need for regulatory protection and informed financial decision-making."

Mohammed said financial education is not just about managing wealth: it is about safeguarding livelihoods, empowering people to recognise red flags, ask the right questions and make informed decisions based on sound knowledge, rather than empty promises.

In her speech, SEC manager of corporate communications and education Ellen Lewis, emphasised the commission's role as the regulator of the local securities industry, with a primary mandate focused on investor protection.

She said SEC collaborates with various stakeholders to provide key information and resources, helping the public make informed financial and investment decisions and participate in the local securities markets.

Echoing the sentiments of the previous speaker, Lewis said the initiative plays a pivotal role in bringing investor education programmes directly to communities, empowering individuals with the knowledge and tools needed to make informed financial and investment decisions.

Lewis highlighted the wide array of freely available resources developed to support individuals on their investor education journey. She said learning about investing does not have to be intimidating and discussed several online platforms designed to provide an engaging and interactive experience through simulating real-world market scenarios.

She also stressed the importance of early education, highlighting TTSEC's partnership with the Ministry of Education to train teachers and integrate investment concepts into secondary-school curricula.