October 20, 2024 | 12:00am
MANILA, Philippines — The Securities and Exchange Commission (SEC) has teamed up with the Department of Education (DepEd) to enhance financial literacy among students and teachers amid a growing number of scams.
The agencies recently signed a memorandum of agreement (MOA) for the inclusion of the SEC’s smart financing and investment education resources into the country’s educational curriculum.
Under the MOA, DepEd will adapt the resources provided by the commission into learning materials to be used in the classroom setting as well as integrate financial literacy as a key learning competency.
Although the commission was already conducting a series of webinars focused on a broad range of financial topics, SEC chairman Emilio Aquino believes his agency “can do more.”
“Our ultimate goal is to embed financial literacy deeply in our society, starting with the youth. If we want a bountiful harvest, we must first plant and nurture the seeds, and for this, we seek the assistance of DepEd,” Aquino said.
With this partnership, the corporate regulator is set to lead initiatives educating teachers on how to identify, avoid and report illegal investment schemes.
The SEC will also provide data on blacklisted corporations involved in fraudulent investment activities to help educators and students know which entities to avoid.
“A more financially literate public will be better positioned to build a secure future while avoiding the financial pitfalls and scams that have become increasingly prevalent,” Aquino said.
Furthermore, the commission is pushing for the passage of the proposed Capital Market Development Act, which will provide a legislative basis for the integration of the SEC learning materials into the curriculum.
Deped is the newest partner to join the SEC’s flagship program, SEC Campaign, Advocacy and Network, aimed at promoting financial literacy in the country.
Under the program, the SEC forges partnerships with both public and private organizations to form the SEC Capital Market Promotion and Awareness Inter-Agency, which will help boost financial education programs.
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