Wednesday, April 13, 2005
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8988
Better Business Bureau Investor Ed Project Wins NASD Foundation Nod
Washington, D.C.— The NASD Investor Education Foundation has awarded a grant of $75,000 to the Education and Research Foundation of the Better Business Bureau serving Metropolitan New York to create a national education project aimed primarily at Spanish-speaking investors.
The project, called More Money Now: Better Credit and Longer-Lasting Dollars, will consist of a new Web site dedicated to money and investment issues as well as brochures that will be distributed through Better Business Bureaus throughout the country. Both the Web site and brochures will be available in Spanish and English versions. The materials will be plainly written and are intended for individuals who find it difficult to save money or engage in financial planning.
The project's content will be designed to help people find ways to use money more effectively on an every day basis. It will include information on improving credit, reducing debt, making financial choices that will save money, locating qualified financial advisors, and avoiding common financial scams, taking steps towards savings and investment goals, and finding additional sources of information about financial issues.
"Statistics show minority groups are far more likely to be victims of financial fraud," said Robert R. Glauber, Chairman & CEO of NASD, who also serves as Chairman of the NASD Investor Education Foundation. "And Hispanics are twice as likely as non-Hispanics to become fraud victims. We believe that education is the most potent form of investor protection. This program will provide easy-to-understand information and advice on the financial basics, as well as important tips on how to avoid becoming another fraud statistic."
The NASD Investor Education Foundation, established in 2003, supports educational programs and research with the goal of providing investors with high-quality, easily accessible information and tools to better understand investing and the markets. The Foundation recently awarded more than $1 million in total to 11 organizations, including Metro New York's Better Business Bureau Foundation, for new educational programs and research projects targeting the underserved segments of the population. The NASD Investor Education Foundation formally launched its second full grant cycle on April 5, inviting non-profit groups and researchers to apply for funding. Grant proposals must be submitted by June 3, 2005. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site, www.nasd.com, printed materials and Investor Forums.