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U.S. investors lack basic financial literacy

U.S. investors lack basic financial literacy, according to a study by the U.S. Securities and Exchange Commission.

By Paula Aven Gladych | Updated on September 04, 2012

As part of the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the U.S. Securities and Exchange Commission was tasked with conducting a study to identify the existing level of financial literacy among retail investors and methods and efforts to increase the financial literacy of investors.

In its research, the SEC found that U.S. retail investors lack basic financial literacy and have a weak grasp of elementary financial concepts. They also lack critical knowledge of ways to avoid investment fraud, according to the study.

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