No, this is not about financial literacy of B/D registered persons. The SEC is studying issues pertaining to the financial literacy of public investors. And to obtain some much needed feedback, the SEC published a request for public comment on financial literacy and investor disclosure issues.  The SEC review is mandated by the Dodd-Frank Reform Act, Section 917, which directs the SEC to conduct the study and submit its findings to Congress by 7/21/12.  Which is why the SEC needs your comments by mid-March. The SEC is using qualitative and quantitative research, including investor testing, to help inform the study.  It will supplement this research with public comment on financial literacy and investor disclosure issues. Objectives of the SEC Study. Consistent with the Dodd-Frank Act’s specifications, the SEC seeks comments the following topics:

• methods to improve the timing, content, and format of disclosures to investors regarding financial intermediaries, investment products, and investment services.
• information that retail investors need to make informed financial decisions on hiring a financial intermediary or purchasing an investment product or service typically sold to retail investors, including mutual funds.
• how to make investment expenses and conflicts of interest in investment transactions more transparent to investors.

“Many of the issues that the Dodd-Frank Act identified for Commission study directly affect individual investors. As a result, we are especially interested in receiving comments from individual retail investors.”  -- Lori Schock, Director of SEC’s Office of Investor Education and Advocacy. The public comment period will remain open for 60 days, following publication of the request in the Federal Register. For further details, go to:  [SEC PR 12-12, 1/18/12] and   [SEC Request for Comments Release 34-66164].