Enhancing financial literacy (6)

Financial education should also be regarded as an important component of financial regulation. In the aftermath of the financial crisis, and facing growing demands from consumers for financial products, regulators should adopt a multi-channel approach to increase financial literacy, making investors fully understand the risks and benefits of the financial products they are buying.

Financial education is not a substitute for the effective safeguarding of consumers against abusive and fraudulent financial cases. Rather, financial regulators must further strengthen consumer-protection rule making and enforcement, improving the surveillance of financial products sales.

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