EFAMA’s reply to the OECD/INFE consultation on the updated “Guidelines for private and not-for-profit stakeholders in financial education”

In this comment paper, EFAMA answers the two questions raised by the OECD/INFE, supports the updated guidelines and explores how the Guidelines could be further enhanced by covering: 

• Strong recognition of industry associations as trusted intermediaries
• Recognition of financial literacy as a public-interest activity
• Recognition of multilingual and cross-border delivery models
• Proportionate monitoring and evaluation
• Clarification of the distinction between financial education and commercial promotion
• Alignment with recognised competence frameworks.
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Our recommendations build on EFAMA’s experience coordinating pan-European investor education activities through our Investor Education Platform, which we use to activate and coordinate our national associations and corporate members as local ambassadors in Europe and beyond.