| Monday, March 12, 2007
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8988
NASD Foundation Continues to Fund Investor Education for Native American Communities Through First Nations Development Institute Grant
Washington, D.C. — The NASD Investor Education Foundation has awarded a grant of $447,474.60 to the First Nations Development Institute to create investor education materials and resources to help Native American tribal members and trainers learn more about investing in the Native context.
The project, entitled Investing for the Future: Native Community Partnerships, will coordinate with two Native American communities to implement a training program as a model for peer education. It will also build awareness among other tribes through two national training events. The program will extend the impact of a previous First Nations project funded by the NASD Foundation, which produced Building Native Communities: Investing for the Future, a high-quality curriculum that delivered fundamental educational materials on investing and the markets.
"It is critical that all investors have access to financial education," said NASD Foundation Chairman Mary L. Schapiro, who also serves as NASD's Chairman and CEO. "First Nations not only provides basic financial education to Native American groups nationwide, but also unbiased financial education resources that are consistent with their traditions and cultural values."
With the current grant, First Nations will expand on the Investing for the Future curriculum by creating an Instructor Guide and a Resource Guide for trainers who provide investor education to Native American communities. It will also create an InvestNative Web site to make the investor education materials and resources available in electronic form for tribal members and trainers. Combined with the training events and partnerships with the two model communities, the project has the potential to help a large number of Native American investors across the country.
"Native American nations are gaining position to make paramount advancements in economic development and wealth generation," said Mary Phillips (Omaha/Laguna Pueblo), Evaluation Officer, First Nations Development Institute. "The starting point is here and now with each Native person, young or elderly, taking responsibility to ensure we are securing our Native assets through appropriate investment avenues. With projects like the Native Community Partnerships, education on how to invest can help change the ways we decide to spend or save our paychecks or per caps or inheritance, hopefully with investments to help change the economic landscape for Native communities."
The NASD Investor Education Foundation supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of saving and investing. To date, the NASD Foundation has approved nearly $8.3 million in grants and an additional $10.2 million in direct investor education programming. For details about grant programs and other NASD Foundation initiatives, 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 and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business-from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our Web site at www.nasd.com.