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Committee on Retail Investors

(Committee 8)

May 2023IOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | Prepared [ 29 July 2019 ]

2

INDEX

1 - INTRODUCTIONANDEXECUTIVE SUMMARY

3

2 - SITUATION ANALYSIS

3

3 - TARGET AUDIENCES

4

4 - OBJECTIVESAND GOALS

4

5 - BARRIERS, BENEFITS, MOTIVATORS AND COMPETITION

5

6 - POSITION STATEMENT

5

7 - MARKETING MIX STRATEGIES

5

8 - EVALUATION PLAN

7

9 - BUDGET

8

10 - C8 WIW WORKING GROUP

8

11 - IMPLEMENTATION PLAN

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ANNEX I - MARKETING METRICS

10

ANNEXII ¨CCAMPAIGN GUIDELINES FOR IOSCO MEMBERS

11IOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | May 2023

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This plan outlines recommended activities concerning the coordination of the IOSCO World

Investor Week (WIW) to be carried out by the Committee on Retail Investors (C8) through a

dedicated WIW Working Group. It is based on strategic thinking about campaign objectives,

available resources, and feasible methods to evaluate the results. It turns the strategy into actions

and, by doing so, addresses the key questions of any implementation plan (what, who, when, and

how much). It also designs mechanisms to facilitate collaboration among IOSCO members in the

campaign, establishes partnerships with other organizations and IOSCO Committees, and provides

a method to evaluate the campaign results. The approach is informed by literature from the social

marketing discipline1 .

2.1. Key background information and plan goals

Among C8 objectives, one is certainly to find new ways of reaching out to the public that could

benefit from IOSCO work on investor education and protection and other is to ensure that

IOSCO¡¯s voice on education be heard. WIW is a great instrument to achieve both objectives insofar

as it entails forms of direct contact with people who most need financial education and protection,

besides putting IOSCO as a central player in the world stage, when it comes to financial education

and protection.

WIW has two primary marketing objectives:

  1. disseminating key messages that further investor education and protection, as well as

financial literacy; and

  1. fostering learning opportunities for investors.

A secondary objective is to strengthen collaboration within IOSCO members on investor

education and protection.

1 This plan is based on guidelines and recommendations referred by: (1) Lee, N., & Kotler, P. (2016). Social marketing:

changing behaviors for good (5th ed.). Thousand Oaks, CA: SAGE. (2) Andreasen, A. (1995). Marketing social change: Changing

behavior to promote health, social development, and the environment. San Francisco, CA: Jossey-Bass. (3) Lee, N., & Kotler, P.

(2007). Marketing in the public sector: a roadmap for improved performance. Upper Saddle River, NJ: Prentice Hall. (4) Bendle,

N., Farris, P., Pfeifer, P., & Reibstein, D. (2016). Marketing metrics: the manager`s guide to measuring marketing performance (3rd

ed.). Upper Saddle River, NJ:Person.

INTRODUCTIONANDEXECUTIVESUMMARYIOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | May 2023

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It is well established that segmentation helps to achieve the marketing objectives of a campaign

(e.g. raising awareness; increasing knowledge; and changing behaviour). This section briefly

explores the advantages of segmentation and provides additional information when it comes to

segmenting the population, so that each participating jurisdiction can decide how to approach this.

Segmentation increases the campaign effectiveness, insofar as strategy is designed to address the

specific needs of a target audience. In fact, targeting specific groups that are more likely to respond

to campaign key messages may result in greater efficiency.

The target audience can be divided into groups based on demographic (age, gender, religion,

income level, etc.), geographic and psychographic variables (social class, lifestyle, values and

personality characteristics), as well as on knowledge, attitudes and behaviours we want to encourage

or discourage in a population segment. Groups that are more likely to adopt new behaviours or

attitudes (e.g. early adopters) could also be considered.

Participating jurisdictions may want to focus not only on downstream audiences

(investors/consumers), but also on midstream (church leaders, health care providers, entertainers

and others that are closer to individuals) and upstream audiences (policy makers, the media,

corporations, foundations and other groups). It has been noted that2 communities could play a role

in long-term solutions for social problems in a more cost-effective fashion. They could motivate

individuals to act, support behaviour change, reach out to other communities, and foster

partnerships. Structural changes could also be sought by focusing the campaign on lawmakers,

policy makers, and other regulators and public bodies that have a common and legitimate interest

in investor education and protection (e.g. consumer protection agencies).

At the international level, the following set of objectives and goals will be pursued:

- achieving considerable participation of IOSCO members; and

- engaging international organizations/forums in the campaign, by becoming supporters through

endorsing the campaign and/or promoting events and activities.

At the jurisdictional level, IOSCO members will set their own objectives and goals.

2 Andreasen, A. (2006). Social marketing in the 21st century. Thousand Oaks, CA: SAGE.IOSCO World Investor Week

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It is vital to the success of WIW that IOSCO members and international organizations embrace

the campaign. One factor that might prevent an organization from being part of WIW is timing, as

WIW may overlap with other national or global campaigns. However, a jurisdiction can create

synergy by promoting related events in the same week.

International organizations and forums will be invited by IOSCO to participate in WIW as

supporters. Supporting the campaign will not require financial support nor will direct efforts to be

expected to organize events or activities. For supporting entities, the costs should be low, especially

if supporting organizations primarily drive amplification of WIW messages on social media. The

WIW Working Group believes the main perceived barrier could be a potentially different focus for

the organization.

Each jurisdiction has its own resources and priorities. Conditions differ among jurisdictions, but it

is believed that all members could benefit from associating with a global campaign aimed at

educating and protecting investors. C8 members interacting with other organizations could explore

¡°what is in it for them¡± and focus on the perceived benefits of taking part in WIW, such as brand

image and program empowerment, which can be a powerful motivation.

The IOSCO campaign aims at engaging IOSCO members, international organizations and other

relevant stakeholders in promoting a coordinated action that enables investor education and

protection around the world. By doing so, investors in each jurisdiction can benefit from the

initiatives and programs carried out during WIW.

Participating IOSCO member jurisdictions may deliver key messages through communication

campaigns and educational programs that will help to improve awareness and understanding of

important financial concepts. Attitudes and behaviours are expected to be influenced in a positive

way, improving individuals¡¯ financial outcomes and avoiding fraud4 . Ultimately, those efforts will

lead to improvements in individual financial well-being.

3 Marketing Mix Strategy (4Ps): Product (perceived benefits, goods and services offered/promoted), Price (nonmonetary

and monetary incentives/disincentives), Place and Promotion (Key messages, key messengers, communication channels).

4 See FR09/14 Strategic Framework for Investor Education and Financial Literacy, Final Report, Report of the Board of

IOSCO, October 2014, available at: http://www.iosco.org/library/pubdocs/pdf/IOSCOPD462.pdf.IOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | May 2023

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At the jurisdictional level, IOSCO members will decide on which organizations (self-regulatory

organizations, industry associations, market participants, etc.) will be invited to be part of the

campaign. In principle, participation of schools, universities, clubs and associations should be

encouraged and facilitated.

Internationally, the WIW WG Coordinator will carry out the overall coordination of the campaign,

connecting with other organizations5 and discussing the possibility of obtaining their support for

WIW. Such support would include their endorsement to the campaign and their help in spreading

the WIW key messages among their members or across the globe. Cooperation could also include

the promotion of events and activities by such organizations, in accordance with Campaign

Guidelines for IOSCO Members (Annex III). C8 may also reach out to other international

associations (such as Financial Planning Standards Board - FPSB) that may want to associate their

own campaigns during the WIW (e.g., financial planning day), especially if that can attract more

attention and reinforce WIW key messages.

WIW initiatives can include the distribution and promotion of booklets, flyers and other

publications; games, software and apps; websites, blogs, and social media profiles. Activities like

awards, local and national campaigns, press releases, interviews, TV shows, radio programs,

newspaper articles, etc. are encouraged too.

A broad range of different events, such as webinars, classes, talks, seminars, conferences, visits,

guided tours, lectures and town-meetings, will be acceptable (including virtual or hybrid formats, if

they aim at improving financial literacy or investor education. Initiatives to increase investor

protection are also eligible, such as a service for investors (e.g. a hotline) or some new regulation

to protect financial consumers.

Participating jurisdictions will inform the WIW Working Group about the events and activities that

they want to include on the WIW agenda, by completing an online form (to be made available by

the WIW WG) within a deadline previously established and announced. By doing so, they will ease

the process of gathering information on results and provide the WIW Working Group with useful

information about the nature of the initiatives initially envisioned. Only events that meet the

guidelines will be on the WIW campaign official agenda.

Events and activities should be free6 , and nonmonetary (e.g., public recognition) incentives/disincentives

could be offered to individuals.

WIW is to be carried out in October, preferably in the week that covers the first Monday of

the month7 . During the whole week events will be scheduled at locations that are convenient

for each jurisdiction. Should there be a conflict with dates in a particular jurisdiction (e.g.

national holidays or dates of local financial education events) any other week of October

or November could also be eligible to implement WIW in that jurisdiction.

5 Implementation plan mentions international organizations and forums that are envisaged as potential and acceptable

endorsers or partners, whereas new organizations will require a consultation process with the IOSCO General

Secretariat.

6 Subject to the laws of the relevant jurisdiction, some events and activities may charge nominal fees and offer monetary

incentives to individuals.

7 The 2023 edition will be held in the week of 2 October (2 through 8 October). For the 2020, 2021 and 2022 WIW

campaigns, the Covid-19 local conditions were considered by the participating jurisdictions to decide on the dates or

modalities for conducting their campaigns. On 5 May 2023, the World Health Organization (WHO) announced that

¡°COVID-19 is now an established and ongoing health issue which no longer constitutes a public health emergency of international concern

(PHEIC)¡±.IOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | May 2023

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Materials and resources offered by the different participating jurisdictions and organizations will

be available on their own websites or other communication channels, but hard copies could also

be distributed. Location of global events will be decided by C8 in consultation with the IOSCO

General Secretariat.

At least two press releases will be distributed by IOSCO, and its Twitter or other social media

accounts may disseminate messages of the participating jurisdictions, if requested by the respective

jurisdiction. C8, through the WIW Working Group, will assist in developing the press releases and

coordinate global messaging. WIW messaging will emphasize that securities regulators on six

continents are participating in WIW to raise awareness of the importance of investor education and

protection. Some IOSCO members might have capacity to participate only in a minimal way.

Communications templates made available on the WIW official website by the WIW Working

Group will help to ease the burden of those jurisdictions, while allowing them to build awareness

of investors in their respective areas.

Information about the campaign will feed the WIW website. Selected events and activities,

marketing resources and supporting materials in different languages will be hosted on the WIW

website to help promoting the campaign.

IOSCO members are strongly encouraged to stimulate media coverage and share it with the WIW

Working Group, besides producing multimedia content for the campaign. The WIW Working

Group can approve and use videos and other content produced by C8 members on the website

and other spaces.

Each year, the WIW Working Group will conduct a voluntary survey about WIW participation and

the information will be evaluated by the WIW Working Group, approved by C8 and reported to

the IOSCO Board. Participating jurisdictions voluntarily may inform the WIW Working Group

and C8 IOSCO of the results achieved jurisdictionally (and regionally, in the case of regional

coordinators). An online questionnaire that the WIW Working Group will make available to

participants for their voluntary use will facilitate the process of gathering information on the

selected indicators.

The voluntary questionnaire is intended to measure the outputs, outcomes and impacts of

the one-week campaign. Participants should answer all questions with the results of WIW

initiatives promoted by their jurisdiction. More details on the questionnaire can be found in

Annex II (metrics).

As WIW is a one-week event, the focus of the data will be on the engagement level with the various

activities and outputs, such as event attendance/feedback, visits/interaction with relevant

webpages, etc. Participating jurisdictions and organizations will not be required to provide data on

changes in behaviour, improvement of financial well-being and saving habits, or prevention of

fraud, but any additional data on impact that might be collected will be highly appreciated.

EVALUATION PLANIOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | May 2023

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WIW will be based on the efforts of each participating jurisdiction that will contribute to the campaign

by being responsible for key activities.

To manage WIW and coordinate activities, C8 has established a dedicated WIW Working

Group (¡°Working Group¡±). The Working Group is composed of members of C8 on a

voluntary basis, who elect a Coordinator among the members of the Working Group, for a

mandate of three years. The Working Group Coordinator (¡°WG Coordinator¡±) must be an

Ordinary Member of IOSCO.

The WG Coordinator is responsible for making sure all activities and projects deemed necessary

to the preparation, execution and evaluation of the campaign be carried out. In order to accomplish

that, he will make the necessary decisions, in consultation with the Working Group, and

coordinating the necessary and other matters with the C8 Chair and IOSCO Secretariat.

The WG Coordinator shall make efforts to maintain the campaign, discuss the participation of new

members in the Working Group and find volunteers to perform tasks or replace responsibility for

those tasks when necessary.

It is also the responsibility of the WG Coordinator to contact other institutions, members

or not of IOSCO. In this case, the WG Coordinator shall follow the specific guidelines of

the campaign implementation plan to encourage the participation of new entities and the

development of new initiatives.

The WG Coordinator must be a financial regulator in the area of financial and investor education.

Among the tasks the WG will take responsibility for is the drafting of key messages, social media

plan, design, communications, graphics, and website8 .

The Working Group will work so that there is media coverage of WIW, thus enhancing the

impacting of the campaign throughout the world. This work will be handled in coordination with

IOSCO¡¯s communication manager. As an example of action seeking media coverage, it is managing

to arrange a Google Doodle specially designed for the WIW.

As for the WIW website, it must be hosted in a domain9 administered by IOSCO. In coordination with

IOSCO Secretariat, new domains can be established in the future. Structural website changes will require

approval of Committee 8.

8 For the WIW campaign of 2023, different members of the WIW WG, such as the U.S. SEC, the AMF (Quebec) and

the CVM Brazil will be responsible for the key messages, and the AMF (Quebec) and the IOSCO GS for the social

media plan. The IOSCO GS will also be responsible for the WIW website. Other tasks will be allocated among the

WIW WG members and the IOSCO GS.

9 Since the first WIW edition, the domain utilized has been www.worldinvestorweek.org.

BUDGET

C8 WIW WORKING GROUPIOSCO World Investor Week

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OICV-IOSCO | May 2023

Key Activities

(WHAT)

Responsibility (WHO)

Timing (WHEN)

Logos and designs

C8 WIW Working Group (WG)

February - May

Key messages (in

English)

WG

February - May

Launch of WIW annual

edition

Committee 8 and IOSCO Secretariat

June - July

WIW Webpage

IOSCO

March - May (development)

June - October

(maintenance/updating)

Outreach strategy

International organizations: WG*

IOSCO members: regional

coordinators (Americas, Africa, Asia,

Europe, etc.)

June - September

Press release draft

WG

May

Tweets (in English)

IOSCO General Secretariat (building off the

key messages developed by the WG and

included in the press release)

March - October

Translation of press

release, key

messages, and tweets

to other IOSCO

official languages

Voluntary Jurisdictions defined by the WG March - October

Issuing IOSCO press

releases

IOSCO General Secretariat (one press

release at the launching, and two others, at

the start and at the end of the campaign)

March - June

October - November

Campaign

IOSCO members

October - November

Draft a Public Report to

IOSCO Board

WG

February - May

*New international organizations and forums will require a consultation process with the IOSCO General

Secretariat.

IMPLEMENTATIONPLANIOSCO World Investor Week

Campaign Implementation Plan

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OICV-IOSCO | May 2023

Data beats opinion 11 , so it is important to have a few key performance indicators to measure

the WIW marketing performance results, as a global campaign. The Working Group¡¯s

measurement exercise will depend on the data voluntarily provided by jurisdictions, so it is

crucial to help ensure all participating organizations will have the same knowledge about

what will be measured and how it will be done. We will focus on marketing performance

metrics to evaluate web-based initiatives and tools, as well as other marketing efforts

provided by information technology (direct mail, etc.).

Information on the campaign metrics will be available at the WIW website. The purpose of the

marketing metrics is twofold: defining a portfolio of possible campaign metrics and offering

clarification of the main marketing measures that could be used by the campaign. However, it

should be noted that whatever group of metrics a member chooses in order to provide results with

greater precision, what is more important is that WIW serves as a tool available for each IOSCO

member to reach its own jurisdictional objectives.

In addition, and to feed into the public report, each jurisdiction will be asked to prepare a

comparison between what was planned and what was achieved (%). This will bring flexibility to

accommodate different national/local perspectives and different scales (market development and

size, population, territory, etc.), allowing members to focus on what matters most. Other examples

of data that can be collected are national and/or local press coverage, i.e., number of media

mentions published over a period.

10 See Bendle, N., Farris, P., Pfeifer, P., & Reibstein, D. (2016). Marketing metrics: the manager`s guide to measuring marketing

performance (3rd ed.). Upper Saddle River, NJ: Person.

11 "At Google, we believe that good data beats opinion", Google Agency Blog:

http://adwordsagency.blogspot.com.br/2011/04/data-beats-opinion-introducing-think.html.IOSCO World Investor Week

Campaign Implementation Plan

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OICV-IOSCO | May 2023

WIW is a concerted effort to launch and build awareness of investor education and protection

initiatives around the globe. The following guidelines were drawn up so that every participating

IOSCO member will know how to involve and coordinate other entities within their own

jurisdiction. Similarly, the guidelines inform the process by which C8 invites international

organizations, forums and networks to support or endorse WIW, as well as how C8 explores

potential collaboration concerning organizing events.

The WIW official agenda12 will include events and initiatives organized within the jurisdiction of

participating IOSCO ordinary members, which should coordinate with other IOSCO member(s)

within the same jurisdiction (if applicable) and decide which non-IOSCO organizations could be

invited to participate in the jurisdiction. Although only recognized activities will be part of the WIW

official agenda, WIW could be supported on a voluntary basis. During the week, those initiatives

might also be promoted by universities, schools, governmental entities, self-regulatory

organizations, NGOs (charities, associations, citizens¡¯ groups and others, organized on a local,

national or international level), financial institutions, market participants (stock exchanges, listed

companies, etc.), museums and others.

Only non-commercial activities would be permitted, and initiatives should be free. Nonmonetary

(e.g., public recognition) incentives/disincentives may be offered, however, at the discretion of

participating IOSCO members, some events may charge nominal fees (donations, grants, symbolic

fees, etc.) and offer monetary incentives to individuals, such as discounts, vouchers, etc. All

information provided will have to be unbiased and refrain from recommending specific investment

products or services.

IOSCO members may invite national or local personalities (such as politicians, royalty, athletes,

TV presenters, actors, journalists, etc.) to support the campaign on a personal basis, as WIW

"ambassadors". When deemed relevant by participating jurisdictions, they may mention them on

local websites/webpages. Whenever made known to C8, they may be mentioned in the WIW

webpage and report.

Initiatives organized by IOSCO members (Ordinary, Associate or Affiliate) will be considered as

part of WIW, unless they are not consistent with the year¡¯s key messages. IOSCO members should

inform the Working Group of their events and activities, so that they can be included in the official

agenda and be mentioned in the WIW Public Report.

In the international arena, the Working Group will reach out13 to other organizations, forums and

networks, seeking support for the campaign, translated into their endorsement and their help in

spreading the WIW key messages among their members or across the globe. Those organizations

could also be approached whenever their support is useful or when there is a perceived potential

benefit in such collaboration. Such organizations can be mentioned on the WIW website as global

supporters. Once an organization has been admitted into supporting or endorsing the

12 WIW official agenda will comprise only events and initiatives promoted in collaboration with an IOSCO member,

who could authorize the use of WIW logos.

13 See footnote 5.IOSCO World Investor Week

Campaign Implementation Plan

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OICV-IOSCO | May 2023

WIW campaign, its participation in next editions is assumed by the Working Group, although it is

voluntary participation and, in case they do not want to go on supporting or endorsing WIW, they

can opt out through a simple communication to the Working Group.

If the Working Group deems relevant, global and regional events could be promoted during WIW

and be mentioned on the official agenda14 . This includes housing their own campaign during the

week (such as World Financial Planning Day promoted by FPSB). In both cases, the international

organization will discuss the possibility and the characteristics of the event/campaign with the

Working Group, which will also require IOSCO General Secretariat approval. Once the event is

approved, it can be part of the official agenda, provided that the main characteristics remain the

same and comply with rules and guidelines.

14 Organizations and forums may endorse WIW or promote global events on their own, without having sought

authorization from IOSCO. In such circumstances, the use of WIW logo is not authorized nor will there be any

mention on the WIW website of such organization or forum.IOSCO World Investor Week

Campaign Implementation Plan

OICV-IOSCO | Prepared [ 29 July 2019 ]

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