Committee on Retail Investors
(Committee 8)
May 2023IOSCO World Investor Week
Campaign Implementation Plan
OICV-IOSCO | Prepared [ 29 July 2019 ]
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INDEX
1 - INTRODUCTIONANDEXECUTIVE SUMMARY
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2 - SITUATION ANALYSIS
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3 - TARGET AUDIENCES
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4 - OBJECTIVESAND GOALS
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5 - BARRIERS, BENEFITS, MOTIVATORS AND COMPETITION
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6 - POSITION STATEMENT
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7 - MARKETING MIX STRATEGIES
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8 - EVALUATION PLAN
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9 - BUDGET
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10 - C8 WIW WORKING GROUP
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11 - IMPLEMENTATION PLAN
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ANNEX I - MARKETING METRICS
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ANNEXII –CAMPAIGN GUIDELINES FOR IOSCO MEMBERS
11IOSCO World Investor Week
Campaign Implementation Plan
OICV-IOSCO | May 2023
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This plan outlines recommended activities concerning the coordination of the IOSCO World
Investor Week (WIW) to be carried out by the Committee on Retail Investors (C8) through a
dedicated WIW Working Group. It is based on strategic thinking about campaign objectives,
available resources, and feasible methods to evaluate the results. It turns the strategy into actions
and, by doing so, addresses the key questions of any implementation plan (what, who, when, and
how much). It also designs mechanisms to facilitate collaboration among IOSCO members in the
campaign, establishes partnerships with other organizations and IOSCO Committees, and provides
a method to evaluate the campaign results. The approach is informed by literature from the social
marketing discipline1 .
2.1. Key background information and plan goals
Among C8 objectives, one is certainly to find new ways of reaching out to the public that could
benefit from IOSCO work on investor education and protection and other is to ensure that
IOSCO’s voice on education be heard. WIW is a great instrument to achieve both objectives insofar
as it entails forms of direct contact with people who most need financial education and protection,
besides putting IOSCO as a central player in the world stage, when it comes to financial education
and protection.
WIW has two primary marketing objectives:
- disseminating key messages that further investor education and protection, as well as
financial literacy; and
- fostering learning opportunities for investors.
A secondary objective is to strengthen collaboration within IOSCO members on investor
education and protection.
1 This plan is based on guidelines and recommendations referred by: (1) Lee, N., & Kotler, P. (2016). Social marketing:
changing behaviors for good (5th ed.). Thousand Oaks, CA: SAGE. (2) Andreasen, A. (1995). Marketing social change: Changing
behavior to promote health, social development, and the environment. San Francisco, CA: Jossey-Bass. (3) Lee, N., & Kotler, P.
(2007). Marketing in the public sector: a roadmap for improved performance. Upper Saddle River, NJ: Prentice Hall. (4) Bendle,
N., Farris, P., Pfeifer, P., & Reibstein, D. (2016). Marketing metrics: the manager`s guide to measuring marketing performance (3rd
ed.). Upper Saddle River, NJ:Person.
INTRODUCTIONANDEXECUTIVESUMMARYIOSCO World Investor Week
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It is well established that segmentation helps to achieve the marketing objectives of a campaign
(e.g. raising awareness; increasing knowledge; and changing behaviour). This section briefly
explores the advantages of segmentation and provides additional information when it comes to
segmenting the population, so that each participating jurisdiction can decide how to approach this.
Segmentation increases the campaign effectiveness, insofar as strategy is designed to address the
specific needs of a target audience. In fact, targeting specific groups that are more likely to respond
to campaign key messages may result in greater efficiency.
The target audience can be divided into groups based on demographic (age, gender, religion,
income level, etc.), geographic and psychographic variables (social class, lifestyle, values and
personality characteristics), as well as on knowledge, attitudes and behaviours we want to encourage
or discourage in a population segment. Groups that are more likely to adopt new behaviours or
attitudes (e.g. early adopters) could also be considered.
Participating jurisdictions may want to focus not only on downstream audiences
(investors/consumers), but also on midstream (church leaders, health care providers, entertainers
and others that are closer to individuals) and upstream audiences (policy makers, the media,
corporations, foundations and other groups). It has been noted that2 communities could play a role
in long-term solutions for social problems in a more cost-effective fashion. They could motivate
individuals to act, support behaviour change, reach out to other communities, and foster
partnerships. Structural changes could also be sought by focusing the campaign on lawmakers,
policy makers, and other regulators and public bodies that have a common and legitimate interest
in investor education and protection (e.g. consumer protection agencies).
At the international level, the following set of objectives and goals will be pursued:
- achieving considerable participation of IOSCO members; and
- engaging international organizations/forums in the campaign, by becoming supporters through
endorsing the campaign and/or promoting events and activities.
At the jurisdictional level, IOSCO members will set their own objectives and goals.
2 Andreasen, A. (2006). Social marketing in the 21st century. Thousand Oaks, CA: ankarafoto.com World Investor Week
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It is vital to the success of WIW that IOSCO members and international organizations embrace
the campaign. One factor that might prevent an organization from being part of WIW is timing, as
WIW may overlap with other national or global campaigns. However, a jurisdiction can create
synergy by promoting related events in the same week.
International organizations and forums will be invited by IOSCO to participate in WIW as
supporters. Supporting the campaign will not require financial support nor will direct efforts to be
expected to organize events or activities. For supporting entities, the costs should be low, especially
if supporting organizations primarily drive amplification of WIW messages on social media. The
WIW Working Group believes the main perceived barrier could be a potentially different focus for
the organization.
Each jurisdiction has its own resources and priorities. Conditions differ among jurisdictions, but it
is believed that all members could benefit from associating with a global campaign aimed at
educating and protecting investors. C8 members interacting with other organizations could explore
“what is in it for them” and focus on the perceived benefits of taking part in WIW, such as brand
image and program empowerment, which can be a powerful motivation.
The IOSCO campaign aims at engaging IOSCO members, international organizations and other
relevant stakeholders in promoting a coordinated action that enables investor education and
protection around the world. By doing so, investors in each jurisdiction can benefit from the
initiatives and programs carried out during WIW.
Participating IOSCO member jurisdictions may deliver key messages through communication
campaigns and educational programs that will help to improve awareness and understanding of
important financial concepts. Attitudes and behaviours are expected to be influenced in a positive
way, improving individuals’ financial outcomes and avoiding fraud4 . Ultimately, those efforts will
lead to improvements in individual financial well-being.
3 Marketing Mix Strategy (4Ps): Product (perceived benefits, goods and services offered/promoted), Price (nonmonetary
and monetary incentives/disincentives), Place and Promotion (Key messages, key messengers, communication channels).
4 See FR09/14 Strategic Framework for Investor Education and Financial Literacy, Final Report, Report of the Board of
IOSCO, October 2014, available at: http://ankarafoto.com/library/pubdocs/pdf/ankarafoto.com World Investor Week
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At the jurisdictional level, IOSCO members will decide on which organizations (self-regulatory
organizations, industry associations, market participants, etc.) will be invited to be part of the
campaign. In principle, participation of schools, universities, clubs and associations should be
encouraged and facilitated.
Internationally, the WIW WG Coordinator will carry out the overall coordination of the campaign,
connecting with other organizations5 and discussing the possibility of obtaining their support for
WIW. Such support would include their endorsement to the campaign and their help in spreading
the WIW key messages among their members or across the globe. Cooperation could also include
the promotion of events and activities by such organizations, in accordance with Campaign
Guidelines for IOSCO Members (Annex III). C8 may also reach out to other international
associations (such as Financial Planning Standards Board - FPSB) that may want to associate their
own campaigns during the WIW (e.g., financial planning day), especially if that can attract more
attention and reinforce WIW key messages.
WIW initiatives can include the distribution and promotion of booklets, flyers and other
publications; games, software and apps; websites, blogs, and social media profiles. Activities like
awards, local and national campaigns, press releases, interviews, TV shows, radio programs,
newspaper articles, etc. are encouraged too.
A broad range of different events, such as webinars, classes, talks, seminars, conferences, visits,
guided tours, lectures and town-meetings, will be acceptable (including virtual or hybrid formats, if
they aim at improving financial literacy or investor education. Initiatives to increase investor
protection are also eligible, such as a service for investors (e.g. a hotline) or some new regulation
to protect financial consumers.
Participating jurisdictions will inform the WIW Working Group about the events and activities that
they want to include on the WIW agenda, by completing an online form (to be made available by
the WIW WG) within a deadline previously established and announced. By doing so, they will ease
the process of gathering information on results and provide the WIW Working Group with useful
information about the nature of the initiatives initially envisioned. Only events that meet the
guidelines will be on the WIW campaign official agenda.
Events and activities should be free6 , and nonmonetary (e.g., public recognition) incentives/disincentives
could be offered to individuals.
WIW is to be carried out in October, preferably in the week that covers the first Monday of
the month7 . During the whole week events will be scheduled at locations that are convenient
for each jurisdiction. Should there be a conflict with dates in a particular jurisdiction (e.g.
national holidays or dates of local financial education events) any other week of October
or November could also be eligible to implement WIW in that jurisdiction.
5 Implementation plan mentions international organizations and forums that are envisaged as potential and acceptable
endorsers or partners, whereas new organizations will require a consultation process with the IOSCO General
Secretariat.
6 Subject to the laws of the relevant jurisdiction, some events and activities may charge nominal fees and offer monetary
incentives to individuals.
7 The 2023 edition will be held in the week of 2 October (2 through 8 October). For the 2020, 2021 and 2022 WIW
campaigns, the Covid-19 local conditions were considered by the participating jurisdictions to decide on the dates or
modalities for conducting their campaigns. On 5 May 2023, the World Health Organization (WHO) announced that
“COVID-19 is now an established and ongoing health issue which no longer constitutes a public health emergency of international concern
(PHEIC)”.IOSCO World Investor Week
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Materials and resources offered by the different participating jurisdictions and organizations will
be available on their own websites or other communication channels, but hard copies could also
be distributed. Location of global events will be decided by C8 in consultation with the IOSCO
General Secretariat.
At least two press releases will be distributed by IOSCO, and its Twitter or other social media
accounts may disseminate messages of the participating jurisdictions, if requested by the respective
jurisdiction. C8, through the WIW Working Group, will assist in developing the press releases and
coordinate global messaging. WIW messaging will emphasize that securities regulators on six
continents are participating in WIW to raise awareness of the importance of investor education and
protection. Some IOSCO members might have capacity to participate only in a minimal way.
Communications templates made available on the WIW official website by the WIW Working
Group will help to ease the burden of those jurisdictions, while allowing them to build awareness
of investors in their respective areas.
Information about the campaign will feed the WIW website. Selected events and activities,
marketing resources and supporting materials in different languages will be hosted on the WIW
website to help promoting the campaign.
IOSCO members are strongly encouraged to stimulate media coverage and share it with the WIW
Working Group, besides producing multimedia content for the campaign. The WIW Working
Group can approve and use videos and other content produced by C8 members on the website
and other spaces.
Each year, the WIW Working Group will conduct a voluntary survey about WIW participation and
the information will be evaluated by the WIW Working Group, approved by C8 and reported to
the IOSCO Board. Participating jurisdictions voluntarily may inform the WIW Working Group
and C8 IOSCO of the results achieved jurisdictionally (and regionally, in the case of regional
coordinators). An online questionnaire that the WIW Working Group will make available to
participants for their voluntary use will facilitate the process of gathering information on the
selected indicators.
The voluntary questionnaire is intended to measure the outputs, outcomes and impacts of
the one-week campaign. Participants should answer all questions with the results of WIW
initiatives promoted by their jurisdiction. More details on the questionnaire can be found in
Annex II (metrics).
As WIW is a one-week event, the focus of the data will be on the engagement level with the various
activities and outputs, such as event attendance/feedback, visits/interaction with relevant
webpages, etc. Participating jurisdictions and organizations will not be required to provide data on
changes in behaviour, improvement of financial well-being and saving habits, or prevention of
fraud, but any additional data on impact that might be collected will be highly appreciated.
EVALUATION PLANIOSCO World Investor Week
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WIW will be based on the efforts of each participating jurisdiction that will contribute to the campaign
by being responsible for key activities.
To manage WIW and coordinate activities, C8 has established a dedicated WIW Working
Group (“Working Group”). The Working Group is composed of members of C8 on a
voluntary basis, who elect a Coordinator among the members of the Working Group, for a
mandate of three years. The Working Group Coordinator (“WG Coordinator”) must be an
Ordinary Member of IOSCO.
The WG Coordinator is responsible for making sure all activities and projects deemed necessary
to the preparation, execution and evaluation of the campaign be carried out. In order to accomplish
that, he will make the necessary decisions, in consultation with the Working Group, and
coordinating the necessary and other matters with the C8 Chair and IOSCO Secretariat.
The WG Coordinator shall make efforts to maintain the campaign, discuss the participation of new
members in the Working Group and find volunteers to perform tasks or replace responsibility for
those tasks when necessary.
It is also the responsibility of the WG Coordinator to contact other institutions, members
or not of IOSCO. In this case, the WG Coordinator shall follow the specific guidelines of
the campaign implementation plan to encourage the participation of new entities and the
development of new initiatives.
The WG Coordinator must be a financial regulator in the area of financial and investor education.
Among the tasks the WG will take responsibility for is the drafting of key messages, social media
plan, design, communications, graphics, and website8 .
The Working Group will work so that there is media coverage of WIW, thus enhancing the
impacting of the campaign throughout the world. This work will be handled in coordination with
IOSCO’s communication manager. As an example of action seeking media coverage, it is managing
to arrange a Google Doodle specially designed for the WIW.
As for the WIW website, it must be hosted in a domain9 administered by IOSCO. In coordination with
IOSCO Secretariat, new domains can be established in the future. Structural website changes will require
approval of Committee 8.
8 For the WIW campaign of 2023, different members of the WIW WG, such as the U.S. SEC, the AMF (Quebec) and
the CVM Brazil will be responsible for the key messages, and the AMF (Quebec) and the IOSCO GS for the social
media plan. The IOSCO GS will also be responsible for the WIW website. Other tasks will be allocated among the
WIW WG members and the IOSCO GS.
9 Since the first WIW edition, the domain utilized has been ankarafoto.com.
BUDGET
C8 WIW WORKING GROUPIOSCO World Investor Week
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Key Activities
(WHAT)
Responsibility (WHO)
Timing (WHEN)
Logos and designs
C8 WIW Working Group (WG)
February - May
Key messages (in
English)
WG
February - May
Launch of WIW annual
edition
Committee 8 and IOSCO Secretariat
June - July
WIW Webpage
IOSCO
March - May (development)
June - October
(maintenance/updating)
Outreach strategy
International organizations: WG*
IOSCO members: regional
coordinators (Americas, Africa, Asia,
Europe, etc.)
June - September
Press release draft
WG
May
Tweets (in English)
IOSCO General Secretariat (building off the
key messages developed by the WG and
included in the press release)
March - October
Translation of press
release, key
messages, and tweets
to other IOSCO
official languages
Voluntary Jurisdictions defined by the WG March - October
Issuing IOSCO press
releases
IOSCO General Secretariat (one press
release at the launching, and two others, at
the start and at the end of the campaign)
March - June
October - November
Campaign
IOSCO members
October - November
Draft a Public Report to
IOSCO Board
WG
February - May
*New international organizations and forums will require a consultation process with the IOSCO General
Secretariat.
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Data beats opinion 11 , so it is important to have a few key performance indicators to measure
the WIW marketing performance results, as a global campaign. The Working Group’s
measurement exercise will depend on the data voluntarily provided by jurisdictions, so it is
crucial to help ensure all participating organizations will have the same knowledge about
what will be measured and how it will be done. We will focus on marketing performance
metrics to evaluate web-based initiatives and tools, as well as other marketing efforts
provided by information technology (direct mail, etc.).
Information on the campaign metrics will be available at the WIW website. The purpose of the
marketing metrics is twofold: defining a portfolio of possible campaign metrics and offering
clarification of the main marketing measures that could be used by the campaign. However, it
should be noted that whatever group of metrics a member chooses in order to provide results with
greater precision, what is more important is that WIW serves as a tool available for each IOSCO
member to reach its own jurisdictional objectives.
In addition, and to feed into the public report, each jurisdiction will be asked to prepare a
comparison between what was planned and what was achieved (%). This will bring flexibility to
accommodate different national/local perspectives and different scales (market development and
size, population, territory, etc.), allowing members to focus on what matters most. Other examples
of data that can be collected are national and/or local press coverage, i.e., number of media
mentions published over a period.
10 See Bendle, N., Farris, P., Pfeifer, P., & Reibstein, D. (2016). Marketing metrics: the manager`s guide to measuring marketing
performance (3rd ed.). Upper Saddle River, NJ: Person.
11 "At Google, we believe that good data beats opinion", Google Agency Blog:
http://ankarafoto.com/2011/04/ankarafoto.com World Investor Week
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WIW is a concerted effort to launch and build awareness of investor education and protection
initiatives around the globe. The following guidelines were drawn up so that every participating
IOSCO member will know how to involve and coordinate other entities within their own
jurisdiction. Similarly, the guidelines inform the process by which C8 invites international
organizations, forums and networks to support or endorse WIW, as well as how C8 explores
potential collaboration concerning organizing events.
The WIW official agenda12 will include events and initiatives organized within the jurisdiction of
participating IOSCO ordinary members, which should coordinate with other IOSCO member(s)
within the same jurisdiction (if applicable) and decide which non-IOSCO organizations could be
invited to participate in the jurisdiction. Although only recognized activities will be part of the WIW
official agenda, WIW could be supported on a voluntary basis. During the week, those initiatives
might also be promoted by universities, schools, governmental entities, self-regulatory
organizations, NGOs (charities, associations, citizens’ groups and others, organized on a local,
national or international level), financial institutions, market participants (stock exchanges, listed
companies, etc.), museums and others.
Only non-commercial activities would be permitted, and initiatives should be free. Nonmonetary
(e.g., public recognition) incentives/disincentives may be offered, however, at the discretion of
participating IOSCO members, some events may charge nominal fees (donations, grants, symbolic
fees, etc.) and offer monetary incentives to individuals, such as discounts, vouchers, etc. All
information provided will have to be unbiased and refrain from recommending specific investment
products or services.
IOSCO members may invite national or local personalities (such as politicians, royalty, athletes,
TV presenters, actors, journalists, etc.) to support the campaign on a personal basis, as WIW
"ambassadors". When deemed relevant by participating jurisdictions, they may mention them on
local websites/webpages. Whenever made known to C8, they may be mentioned in the WIW
webpage and report.
Initiatives organized by IOSCO members (Ordinary, Associate or Affiliate) will be considered as
part of WIW, unless they are not consistent with the year’s key messages. IOSCO members should
inform the Working Group of their events and activities, so that they can be included in the official
agenda and be mentioned in the WIW Public Report.
In the international arena, the Working Group will reach out13 to other organizations, forums and
networks, seeking support for the campaign, translated into their endorsement and their help in
spreading the WIW key messages among their members or across the globe. Those organizations
could also be approached whenever their support is useful or when there is a perceived potential
benefit in such collaboration. Such organizations can be mentioned on the WIW website as global
supporters. Once an organization has been admitted into supporting or endorsing the
12 WIW official agenda will comprise only events and initiatives promoted in collaboration with an IOSCO member,
who could authorize the use of WIW logos.
13 See footnote ankarafoto.com World Investor Week
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WIW campaign, its participation in next editions is assumed by the Working Group, although it is
voluntary participation and, in case they do not want to go on supporting or endorsing WIW, they
can opt out through a simple communication to the Working Group.
If the Working Group deems relevant, global and regional events could be promoted during WIW
and be mentioned on the official agenda14 . This includes housing their own campaign during the
week (such as World Financial Planning Day promoted by FPSB). In both cases, the international
organization will discuss the possibility and the characteristics of the event/campaign with the
Working Group, which will also require IOSCO General Secretariat approval. Once the event is
approved, it can be part of the official agenda, provided that the main characteristics remain the
same and comply with rules and guidelines.
14 Organizations and forums may endorse WIW or promote global events on their own, without having sought
authorization from IOSCO. In such circumstances, the use of WIW logo is not authorized nor will there be any
mention on the WIW website of such organization or ankarafoto.com World Investor Week
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