Launch of “My Money” Financial Literacy Seminars

Date: February 9, 2009

Quarterly seminars to enable consumers to learn the basics of savings and investment products.

Singapore, 9 February 2009…Securities Investors Association (Singapore) or SIAS is organising the “My Money” Financial Literacy Programme which consists of quarterly investor education seminars in 2009 in collaboration with MoneySENSE and The Association of Banks in Singapore (ABS).

The objective is to enable consumers to be more informed and responsible investors. Representatives from ABS will share the facts and risks of common financial products. Other speakers from the Singapore Management University (SMU) Sim Kee Boon Institute for Financial Economics and SIAS will share their views on various products, highlight the risk-return trade-offs and key issues consumers should consider before deciding whether to take up a product. The first seminar will include presentations on the financial needs analysis process, traditional deposits, structured deposits and unit trusts.

Said Mr David Gerald, President and CEO of SIAS: “SIAS believes that investor education is crucial to equip retail investors with the skills needed to make informed decisions. Through these seminars we hope to help investors to understand the investment products that are suitable for their needs and if they match their risk appetite so as to empower them to take greater responsibility for their investing decisions.”

Said Mrs Ong-Ang Ai Boon, Director, ABS: “ABS is pleased to collaborate with MoneySENSE and SIAS together with the Sim Kee Boon Institute for Financial Economics in educating consumers on putting their money in savings and investment products. This is the first time a panel of banking professionals, academicians and an investor group represented by SIAS have come together in a forum to provide a diversity of views to give investors a holistic view of investment products and the attendant risks. This is an investor education process which is an on-going effort.”

Said Mr Shane Tregillis, Chairman of MoneySENSE Financial Education Steering Committee for MoneySENSE, and Deputy Managing Director (Market Conduct), Monetary Authority of Singapore: “We welcome initiatives by ABS and SIAS to run these education sessions for retail investors. It is good that organizations representing financial institutions and investors are coming together under the auspice of the MoneySENSE programme to enhance financial education efforts for retail investors on common financial products.”

The “My Money” seminars, conducted in English and Mandarin, will be held quarterly. The first English seminar starts on Saturday, 21 February 2009, at the Suntec International Exhibition & Convention Centre. Recordings of the seminars will be posted on the websites of the three organizations to allow the facts, advice and tips to be shared with a wider audience. Educational messages will also be broadcast on radio.

For more information, please contact the following:

The Association of Banks in Singapore (ABS)
Mr John Lim
Tel : 6298 2520
Monetary Authority of Singapore (MAS)
Ms Denise Gan
Tel: 6229 9425
Ms Nicole Koh Li-Er
Tel: 6229 9776
Securities Investors Association (Singapore)
Ms Raymi Shankar
Tel: 6227 2683

Background factsheets:

Securities Investors Association (Singapore)

SIAS, a non-profit organization, was founded unexpectedly in June 1999, to champion the CLOB issue. 172,000 retail investors were suddenly stranded when the Malaysian Government froze their investments on Malaysian stocks in September 1998, amounting to US$5 billion. A group of civic-minded citizens lead by Mr David Gerald got together and took on the challenge to free the frozen shares with an initial backing by 49,880 retail investors as members. Their resoluteness and unity helped to resolve the issue on our terms.

Today, SIAS is the largest organized investor lobby group in Asia, with almost 66,000 retail investors as members. It is run by a Management Committee comprising of professionals who are volunteers. It actively promotes Investor Education, Corporate Governance and Transparency and is the watchdog for Investor rights in Singapore. To-date, SIAS has successfully organized some 450 investor education programmes ranging from basic investment seminars for novices to certificate courses for investment savvy investors. Thus far, more than 40,000 retail investors have benefited from these programmes.

Today, SIAS is the voice for minority shareholders and has already locked horns with corporations falling short of good Corporate Governance practices. However, its preferred approach to resolve investors’ right issues is to do so in the boardroom and not in the courtroom.

Many SIAS members have sought protection also from errant traders. SIAS conducts dispute resolution sessions regularly to assist members to resolve issues.

SIAS also works with Public Listed Companies to reach out to retail investors through its corporate communication programme.


  • MoneySENSE is a national financial education programme launched by Mr. Lee Hsien Loong, then Deputy Prime Minister and Chairman of the MAS on 16 October 2003. MoneySENSE brings together industry and public sector initiatives to enhance the basic financial literacy of consumers.
  • Since its launch in October 2003, MoneySENSE has published over 170 educational articles in the media, organised talks, seminars and workshops that have attracted over 36,000 participants as well as issued 25 consumer guides with a total circulation exceeding 2.2 million.
  • MoneySENSE has also disseminated financial tips and messages in interesting ways such as a series of games at the inaugural MoneySENSE 2006 Roadshow which attracted over 89,000 visitors, organised a MoneySENSE-CPF inter-polytechnic financial education outreach that saw over 33,000 visitors, an innovative TV game show “Dollar and Sense” which saw over 1.3 million viewers, and various radio programmes with total listenership exceeding 1 million.
  • The MoneySENSE programme covers 3 tiers of financial literacy:
    • Tier I – Basic Money Management – which covers skills in budgeting and saving, and provides tips on the responsible use of credit;
    • Tier II – Financial Planning – to equip Singaporeans with the skills and knowledge to plan for their long-term financial needs; and
    • Tier III – Investment Know-How – which imparts knowledge about the different investment products and skills for investing.
  • MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee (FESC). The FESC provides strategic directions and oversees financial education programmes in Singapore. It comprises representatives from the Ministry of Community Development, Youth and Sports, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.
  • The FESC works closely with the MoneySENSE Industry Working Group (MIWG) to implement MoneySENSE programmes. The MIWG comprises the Association of Banks in Singapore, Association of Financial Advisers (Singapore), Consumers Association of Singapore, Financial Planning Association of Singapore, General Insurance Association of Singapore, Insurance and Financial Practitioners Association of Singapore, Investment Management Association of Singapore, Life Insurance Association of Singapore and Singapore Exchange Ltd.
  • More information on MoneySENSE is available on


The Association of Banks in Singapore (ABS) plays an active role in promoting and representing the interests of the banking community in Singapore. ABS also works closely with the authorities in supporting their role in developing and maintaining a sound financial system in Singapore. Established in 1973, it has over the years brought its members together, establishing common grounds through benchmarking and setting banking guidelines as well as working on projects of mutual benefit to face new challenges of the financial and banking community in Singapore. Today, ABS has a membership of 119 comprising local and foreign banks. More information on ABS is available on