Defence Force officers and youth campers learn about financial planning

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Defence Force officers and youth campers learn about financial planning

In furtherance of its mandate for investor education, the Trinidad and Tobago Securities and Exchange Commission (TTSEC) conducted a number of financial/investor education sessions with the various formations of the Trinidad and Tobago Defence Force (TTDF) and the vacation youth camps organised by the Ministry of Gender Youth and Child Development. These outreach sessions took place between June and August 2013.

The TTDF sessions were a collaborative effort with the National Financial Literacy Programme of the Central Bank of Trinidad and Tobago and were conducted in June and July. Participants in these sessions, which numbered over 600, included officers at all ranks from the Trinidad and Tobago Regiment, Trinidad and Tobago Coast Guard, Trinidad and Tobago Air Guard and Trinidad and Tobago Reserves. These sessions, conducted at bases in both Trinidad and Tobago, aimed to demystify financial concepts and terms so that the officers can be equipped with the tools that they need to understand and evaluate the risks and benefits of various financial products and to recognise, avoid and report illegal investment schemes. At one of the sessions, a female officer indicated that “in all my years in the TTDF, no one has ever come here to explain these terms to us and provide us with all this information.” The outreach programme culminated in the TTDF’s Financial Fair held in Chaguaramas on July 18.

In August, the TTSEC partnered with the Ministry of Gender, Youth and Child Development to conduct financial education sessions at the Ministry’s youth vacation camps around Trinidad. This interface was conducted with the campers between the ages of 12 to 17 years. At these sessions, the youth completed Goal Cards which were used to underscore the link between personal goals and developing the financial capability to achieve them. Additional topics which were discussed were the importance of saving and tips for teens on managing their money in the real world. Camps which were visited by the TTSEC’s Education team were located at La Horquetta Regional Complex, Chaguanas South Secondary School and Ste. Madeleine Government Primary School.

The Trinidad and Tobago Securities and Exchange Commission (TTSEC) is aware that citizens must become financially literate in order to make more prudent financial decisions. Consequently, the Commission remains committed to employing existing and new strategies to educate and empower citizens to make wise financial choices.

About the TTSEC:

The TTSEC is governed by the Securities Act 2012 and is responsible for maintaining oversight of the securities market and for ensuring that fairness, equity and transparency remain common values in the market place. Our vision is to be an effective regulator of the capital market in which stakeholders have confidence. An integral part of our mandate for investor protection is the conduct of an Investor/Financial Education Programme which focuses on providing our target audiences with information on the rights and responsibilities of investors, a guide to making wise financial decisions, avoiding scams and other pertinent issues.