ESAs publish thematic repository on financial education and digitalisation initiatives
The three European Supervisory Authorities (EBA, ESMA and EIOPA) published today a Joint ESAs thematic repository on financial education and digitalisation initiatives of National Competent Authorities (NCAs), with a specific focus on cybersecurity, scams and fraud. The repository contains 127 national initiatives that provide consumers with helpful information on how to improve their financial literacy.
The Joint ESAs thematic repository focuses on cybersecurity, scams and fraud and consists of more than 120 initiatives across the banking, insurance, pension and investment sectors. Most initiatives are addressed to consumers in general, although some target specific groups of consumers, such as retail investors, elderly people, students, children/young people, families or other particular groups such as journalists and mass media representatives. Some of the initiatives that NCAs have launched build on the increased importance of social media and “influencers” as sources of information and promoters of investment platforms.
The thematic repository will be used to prepare a joint ESAs thematic report on financial education to be published later this year.
Background
The three ESAs have developed the repository in line with their mandate in Article 9(1)(b) of their respective Founding Regulations, which requires the authorities “to take a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products or services across the internal market, including by reviewing and coordinating financial literacy and education initiatives by the competent authorities”.