FINRA requested comments on effective ways to reach "younger, novice investors and people who have yet to participate in investing outside an employer-sponsored retirement plan."

FINRA asked that stakeholders focus their comments on the following areas:

  • what "the single most neglected area" is in investor education;
  • the education methods that have worked best among self-directed investors and investors who receive advice from registered financial professionals;
  • the educational interventions with the highest potential to influence investor behavior;
  • the metrics used to track the results of educational interventions;
  • the integration of investor education into other types of service delivery;
  • how to integrate into investor education (i) lessons from qualitative or quantitative studies of target audiences and (ii) input from behavioral science professionals; and
  • the effectiveness of simulated trading in investor education.



This is a good step. Regulators should be focusing at least as much on education as on imposing more prohibitions.

Primary Sources

  1. FINRA Special Notice - 6/30/21: FINRA Requests Comment on Effective Methods to Educate Newer Investors

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