Investor Education is a powerful tool against fraud, says CMA boss as Uganda marks World Investor Week 2022
pmldaily.com, October 08, 2022 | KAMPALA – In celebration of the annual International Organization Securities Commissions (IOSCO) World Investor Week (WIW), the Capital Markets Authority (CMA), partners and licensees have organised several activities to raise awareness about investor education and investor protection initiatives.
YouTube Video | Uganda Securities Exchange: World Investor Week 2022 | 3rd - 9th October 2022ππΎ
A number of activities have been planned during the months of October and November 2022.
Speaking about the World Investor Week, Keith Kalyegira, CEO of the CMA said: “Investor education is a powerful tool against fraud, and is a means of improving financial resilience. A smart investor understands that risk exists in all investments and never invests based solely on a celebrity endorsement.”
Mr. Kalyegira further added that the various activities being undertaken, such as Twitter Spaces on fraud and asset allocation with the institute of Chartered Financial Analysts (CFA) Society East Africa and Uganda Securities Exchange WIW meetings will go a long way in empowering Ugandan investors.
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| Nakayiza Maria Lucy (left), a participant in one of CMA’s investor education seminars receives a blue savings challenge piggy bank and a book titled: “The gift: e11even moves to make wealthy” from Samuel Sanya, Ag. Communications and Public Relations Manager of the CMA (PHOTO/Courtesy). |
He pointed out that the CMA has taken note of individuals or firms holding out as investment advisers and fund managers, as well as pyramid schemes operating physically and through online platforms, which seek to take cash deposits from unsuspecting members of the public with a promise of exceptional investment returns. He urged the Ugandan public to always seek investment advice from only licensed firms.
“It is therefore imperative that before making the decision to invest, one seeks sufficient investment advice from a licensed intermediary,” Kalyegira said.
About IOSCO
IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation. The organization’s membership regulates more than 95% of the world’s securities markets in some 130 jurisdictions, and it continues to expand.
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