CySEC guide to promote children’s financial literacy

The Cyprus Securities and Exchange Commission (CySEC) has published a parents’ guide for the financial education of children, which includes “valuable information and practical advice” to help parents understand and support their children with financial literacy, in the framework of the 2024 World Investor Week activities.

According to a press release, CySEC has placed a significant focus this year on the financial education of children and adolescents as part of its activities for the 2024 World Investor Week from October 7 to 14, a global campaign promoted by the International Organisation of Securities Commissions (IOSCO).

It also involves safeguarding and educating young people, with a specific focus on the social media realm and the growing impact of financial influencers, or ‘finfluencers’.

CySEC’s activities include delivering lectures and distributing educational material in schools and universities in collaboration with the education ministry.

It will also engage with parent associations in schools and has developed a series of lectures specifically for parents, while a “key element” of this effort is the publication of a Parents’ Guide to Financial Education to promote children’s financial literacy.

The Parents’ Guide contains a dedicated section for adolescents, who often manage larger sums of money, face more external influences and encounter greater risks, particularly online.