FOR IMMEDIATE RELEASE
November 9, 2006
Contact: OFIS (toll-free) 1-877-999-6442
Media/Press calls: Kathy Fagan
- 517-335-1700
OFIS Offers Program to Provide Valuable Consumer
Information
The Office of Financial and Insurance Services (OFIS) announced that a new
educational radio series, “The Investment Minute” will begin
broadcasting throughout Michigan on November 13, 2006 and will run for the
next year.
The series consists of 115 different one-minute snippets of investor education
information offered in an easy-to-understand format. A wide variety of investment-related
subjects are covered during the course of the series, including tips on how
to spot an investment scam, how to choose a stockbroker and how a mutual
fund works.
The Investment Minute will be broadcast over 57 AM and FM radio stations
across Michigan that represent virtually every type of radio format including
talk and all musical genres.
“Our goal in offering these spots is to reach a broad listening audience
because the investment information will be valuable for all age groups and
income levels,” OFIS Commissioner Linda A. Watters said. “People
of every age, ethnicity, religion and income have been the victims of investment
fraud at one time or another, and investor education is the most effective
weapon we have to fight investment fraud.”
The Investment Minute series is funded entirely by a grant from the Investor
Protection Trust to the Securities section of OFIS. Several other Investor
Education projects are in the works, including a statewide series of Investor
Education @ Your Library seminars focusing on rural areas.
OFIS outreach efforts include partnering with such organizations as AARP,
the Michigan Library Association, and the Investor Protection Trust to bring
new and innovative programs that provide critical information to Michigan
citizens.
The Investor Protection Trust is a trust devoted to investor education.
The primary mission of IPT is to provide consumers with independent, objective
information required to make informed investment decisions. Funding for the
IPT comes from the Investor Education Fund (IEF), a fund established with
contributions from the analyst conflicts-of-interest settlements. The IEF
is designated for investor education programs designed to provide consumers
with the knowledge and skills necessary to make informed decisions and to
increase their personal financial literacy.
For more information, contact the Office of Financial and Insurance Services
toll-free at (877) 999-6442 or visit www.michigan.gov/ofis.
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