In a proactive move to shield educators from financial fraud, the Securities and Exchange Commission’s Bicol office in Legazpi City organized an investor education program. This initiative, part of the Investor Protection Week festivities, targeted over 270 teachers from the Department of Education’s San Jose District in Camarines Sur, equipping them with essential skills to spot and steer clear of investment scams.
Arlyn Joy Alarcon, the information officer for SEC-Bicol, highlighted the program’s focus on financial literacy, covering topics like saving and investing. The event creatively used Disney Pixar’s Inside Out as a metaphor to discuss how emotions such as wisdom, thriftiness, doubt, financial pressure, and wastefulness can affect financial choices.
The choice to focus on educators stems from the increasing incidents of teachers being targeted by fraudulent schemes. To formalize their commitment to financial education, the SEC and DepEd signed a memorandum of agreement in October, led by SEC Chair Emilio Aquino and DepEd Secretary Edgardo Angara. This partnership aims to enhance investor education and protect the public from illegal investment scams, with educators playing a pivotal role in disseminating this knowledge to students and communities.
Similar educational sessions were held in March for police personnel and in April in Catanduanes, primarily for educators. Plans are underway for another event in Legazpi City early next year.
SEC Legazpi Director Norma Olaya emphasized the critical role of understanding emotional influences in making prudent financial decisions. She urged educators to maintain a skeptical approach, or ‘duda’ mindset, towards investment opportunities, especially in tough economic times, to safeguard themselves and their communities.