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Education a vital component in securing investment success

THE Australian Securities and Investments Commission is the regulator of the Managed Funds Industry and related financial markets. In that role, its main focus will always be the regulation of unscrupulous operators and scam perpetrators.

But there is another side to its role. That side is the education of investors and potential investors. In more recent times, the Commission has worked hard on providing equal prominence to the educative role as it has traditionally to enforcement and regulation.

As ASIC’s WA regional commissioner, Michael Gething, says: “Every year too many Australians lose their hard-earned savings to dubious operators who exploit vulnerable and inexperienced investors.

“Becoming a better-informed investor can help you avoid their scams and get-rich-quick schemes.”

As part of the educational role, ASIC is taking to the road with a series of investor forums. At these investor forums, everyone who wants to invest for their financial future is invited to participate.

The forums will educate these investors with tips on how to manage their investments and avoid financial rip-offs.

The next of these free forums is to be held in Kalgoorlie, at the Western Mining Conference Centre, WA School of Mines, an appropriate setting given the recent publicity and media attention that has been focused on the “mass marketed tax schemes” through that region. The forums will be held on Monday August 6 from 10.30am to 11.30am, and from 7pm to 8.30pm.

The subject matter of the forums will include the control of your financial future by explaining how to choose a financial adviser, how to spot the characteristics of a scam and what to do if a problem occurs.

Among those offering advice at the forums will be Michael Gething and Peter Young, a specialist in financial planning from the Institute of Chartered Accountants in Australia.

After the forum is completed, the representatives from ASIC and the ICA will be on hand to answer questions. Plans are also in place for the ASIC to take these forums to Karratha on August 20 and Geraldton on August 27. The Commission has already run these forums in Albany, Busselton and Bunbury.

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