On Jan. 18, 2012, the Securities and Exchange Commission published a request for public comment on financial literacy and investor disclosure issues that it is studying as part of a review mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Dodd-Frank Act directs the SEC to conduct a study of retail investors’ financial literacy and to submit its findings to Congress by July 21, 2012. The SEC is using qualitative and quantitative research, including investor testing, to help inform the study.