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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