Press Contact: John Nester (202) 942-7083 National Roundtable on Saving and Investing Scheduled in
summary
No fraud occurred; the OCR text announces a non-enforcement, nationwide financial literacy campaign led by U.S. regulators and industry leaders to address widespread retirement savings ignorance among American workers.
paragraph
The U.S. Securities and Exchange Commission, Federal Trade Commission, and other financial regulators launched a National Roundtable on Saving and Investing to combat financial illiteracy, not to prosecute fraud. A 1997 Employee Benefit Research Institute survey revealed that 75% of American workers did not know how much they needed to save for retirement, prompting the campaign. No charges, penalties, or accused individuals are involved—only public education initiatives culminating in a nationwide Town Meeting on April 4.
narrative
The OCR text is a press release from the U.S. Securities and Exchange Commission announcing the launch of a non-enforcement, nationwide financial literacy campaign called 'Facts on Saving and Investing.' Spearheaded by SEC Chairman Arthur Levitt and joined by FTC Chairman Robert Pitofsky, NYSE Chairman Richard Grasso, and other financial leaders, the initiative aims to address widespread gaps in Americans' understanding of saving and investing. According to the 1997 Employee Benefit Research Institute survey, three out of four workers were unaware of how much they needed to save for retirement, citing fear, complexity, or lack of time as barriers. The campaign kicked off with a National Roundtable in Washington, D.C., on March 30, followed by week-long events in nearly every state. It culminated in a National Town Meeting on Saving and Investing held simultaneously in over 20 cities on April 4. Securities regulators from 21 nations in the Americas also participated by launching investor education programs in their countries. The campaign had no legal or punitive component—its sole purpose was public education and empowerment through accessible financial information.
Classified non-corporate(confidence 100%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
alexandra lebenthalarthur levittbrooksley bornCommodity Futures Trading Commissiondallas salisburydenise voigt crawforddon g. powelldon phillipsemployee benefit research institutefederal trade commissionFrank Zarbheather ruthlebenthal & co.lipper analytical servicesmargaret dixonmaria bartiromomichael lippernational association of investors corporationnational association of securities dealers, inc.olena bergRichard Grassorobert pitofskySecurities and Exchange Commissionstephen brobeckvan kampen american capital, inc.
Keywords
saving investingpresidentnationalroundtablechairmansavinginvestingnational roundtableroundtable savingsecuritiescontact johnjohn nesternester nationalinvesting scheduledfinancial security
Extracted insights
Entities 25
- person alexandra lebenthal
- person arthur levitt
- person brooksley born
- agency Commodity Futures Trading Commission
- person dallas salisbury
- person denise voigt crawford
- person don g. powell
- person don phillips
- person employee benefit research institute
- agency federal trade commission
- person Frank Zarb
- person heather ruth
- company lebenthal & co.
- person lipper analytical services
- person margaret dixon
- person maria bartiromo
- person michael lipper
- company national association of investors corporation
- company national association of securities dealers, inc.
- person olena berg
- person Richard Grasso
- person robert pitofsky
- agency Securities and Exchange Commission
- person stephen brobeck
- company van kampen american capital, inc.
Triples 23
- Arthur Levitt is Chairman of U.S. Securities and Exchange Commission
- Robert Pitofsky is Chairman of Federal Trade Commission
- Richard Grasso is Chairman of New York Stock Exchange
- Frank Zarb is President of National Association of Securities Dealers, Inc.
- Denise Voigt Crawford is President of North American Securities Administrators Association
- National Roundtable on Saving and Investing scheduled for Monday, March 30 in Washington, D.C.
- Facts on Saving and Investing Campaign launches with National Roundtable on Saving and Investing
- National Town Meeting on Saving and Investing held on Saturday, April 4 in more than 20 cities
- Employee Benefit Research Institute's 1997 Retirement Confidence Survey found three out of four American workers have no idea how much money they need to save for retirement
- Olena Berg is Assistant Secretary of Department of Labor
- Brooksley Born is Chairwoman of Commodity Futures Trading Commission
- Dallas Salisbury is President of Employee Benefit Research Institute
- Margaret Dixon is President of AARP
- Stephen Brobeck is Executive Director of Consumer Federation of America
- Tom O'Hara is President of National Association of Investors Corporation
- Heather Ruth is President of The Bond Market Association
- Alexandra Lebenthal is President of Lebenthal & Co.
- Don G. Powell is Chairman of Van Kampen American Capital, Inc.
- John W. Rogers, Jr. is President of Ariel Capital Management
- Michael Lipper is President of Lipper Analytical Services
- Don Phillips is Chief Executive Officer of Morningstar
- Maria Bartiromo is Anchor of CNBC
- Securities regulators from twenty-one nations will offer investor education programs during the week
Extracted body text (3,558c)
FOR IMMEDIATE RELEASE 98-26 Press Contact: John Nester (202) 942-7083 National Roundtable on Saving and Investing Scheduled in Washington, D.C. Public forum will chart course for financial literacy campaign Washington, D.C., March 24--An unprecedented campaign to motivate Americans to "get the facts" they need to achieve financial security will commence with a first-ever National Roundtable on Saving and Investing on Monday, March 30, in Washington, D.C. The two-hour forum, featuring leading voices from government, business, consumer organizations, and the media, will address ways to overcome critical barriers to saving and investing wisely. Among key barriers, according to the Employee Benefit Research Institute's 1997 Retirement Confidence Survey, is that three out of four American workers have no idea how much money they need to save for retirement. Most respondents said that they were afraid of the answer, considered the process too complicated, or didn't have the time. U.S. Securities and Exchange Commission Chairman Arthur Levitt, a roundtable participant, said that while Americans are increasingly responsible for their own financial security, millions lack the basic information they need to achieve it. "The best way to achieve your goals is to know where you are headed financially," Levitt said. "We hope to create a road map to financial security for every American." In addition to Levitt, participants will include Federal Trade Commission Chairman Robert Pitofsky, New York Stock Exchange Chairman Richard Grasso, NASD President Frank Zarb, North American Securities Administrators Association President Denise Voigt Crawford, and other experts. The Roundtable will be the first of a week-long series of national and community events in nearly every state to launch the "Facts on Saving and Investing Campaign." The campaign's kickoff week will culminate with a National Town Meeting on Saving and Investing held simultaneously in more than 20 cities on Saturday, April 4. Securities regulators from twenty-one nations in North, Central and South America and the Caribbean will also offer investor education programs in their countries during the week. For more information, including a list of state-by- state activities and town meeting sites, visit the campaign's website at www.sec.gov/consumer/cosra/getfacts.html. # # # Attachment: List of Roundtable Participants List of Roundtable Participants: Arthur Levitt - Chairman, U.S. Securities and Exchange Commission Robert Pitofsky - Chairman, Federal Trade Commission Olena Berg - Assistant Secretary, Department of Labor Brooksley Born - Chairwoman, Commodity Futures Trading Commission Denise Voigt Crawford - President, North American Securities Administrators Association Richard Grasso - Chairman, New York Stock Exchange Frank Zarb - Chairman, National Association of Securities Dealers, Inc. Dallas Salisbury - President, Employee Benefit Research Institute Margaret Dixon - President, AARP Stephen Brobeck - Executive Director, Consumer Federation of America Tom O'Hara - President, National Association of Investors Corporation Heather Ruth - President, The Bond Market Association Alexandra Lebenthal - President, Lebenthal & Co. Don G. Powell - Chairman, Van Kampen American Capital, Inc. John W. Rogers, Jr. - President, Ariel Capital Management Michael Lipper - President, Lipper Analytical Services Don Phillips - Chief Executive Office, Morningstar Jane Bryant Quinn - Syndicated Columnist Maria Bartiromo - Anchor, CNBC Humberto Cruz - Syndicated Columnist
OCR text (3,558c · plain-text · 99% conf)
FOR IMMEDIATE RELEASE 98-26 Press Contact: John Nester (202) 942-7083 National Roundtable on Saving and Investing Scheduled in Washington, D.C. Public forum will chart course for financial literacy campaign Washington, D.C., March 24--An unprecedented campaign to motivate Americans to "get the facts" they need to achieve financial security will commence with a first-ever National Roundtable on Saving and Investing on Monday, March 30, in Washington, D.C. The two-hour forum, featuring leading voices from government, business, consumer organizations, and the media, will address ways to overcome critical barriers to saving and investing wisely. Among key barriers, according to the Employee Benefit Research Institute's 1997 Retirement Confidence Survey, is that three out of four American workers have no idea how much money they need to save for retirement. Most respondents said that they were afraid of the answer, considered the process too complicated, or didn't have the time. U.S. Securities and Exchange Commission Chairman Arthur Levitt, a roundtable participant, said that while Americans are increasingly responsible for their own financial security, millions lack the basic information they need to achieve it. "The best way to achieve your goals is to know where you are headed financially," Levitt said. "We hope to create a road map to financial security for every American." In addition to Levitt, participants will include Federal Trade Commission Chairman Robert Pitofsky, New York Stock Exchange Chairman Richard Grasso, NASD President Frank Zarb, North American Securities Administrators Association President Denise Voigt Crawford, and other experts. The Roundtable will be the first of a week-long series of national and community events in nearly every state to launch the "Facts on Saving and Investing Campaign." The campaign's kickoff week will culminate with a National Town Meeting on Saving and Investing held simultaneously in more than 20 cities on Saturday, April 4. Securities regulators from twenty-one nations in North, Central and South America and the Caribbean will also offer investor education programs in their countries during the week. For more information, including a list of state-by- state activities and town meeting sites, visit the campaign's website at www.sec.gov/consumer/cosra/getfacts.html. # # # Attachment: List of Roundtable Participants List of Roundtable Participants: Arthur Levitt - Chairman, U.S. Securities and Exchange Commission Robert Pitofsky - Chairman, Federal Trade Commission Olena Berg - Assistant Secretary, Department of Labor Brooksley Born - Chairwoman, Commodity Futures Trading Commission Denise Voigt Crawford - President, North American Securities Administrators Association Richard Grasso - Chairman, New York Stock Exchange Frank Zarb - Chairman, National Association of Securities Dealers, Inc. Dallas Salisbury - President, Employee Benefit Research Institute Margaret Dixon - President, AARP Stephen Brobeck - Executive Director, Consumer Federation of America Tom O'Hara - President, National Association of Investors Corporation Heather Ruth - President, The Bond Market Association Alexandra Lebenthal - President, Lebenthal & Co. Don G. Powell - Chairman, Van Kampen American Capital, Inc. John W. Rogers, Jr. - President, Ariel Capital Management Michael Lipper - President, Lipper Analytical Services Don Phillips - Chief Executive Office, Morningstar Jane Bryant Quinn - Syndicated Columnist Maria Bartiromo - Anchor, CNBC Humberto Cruz - Syndicated Columnist