The Cayman Islands Monetary Authority has launched an online campaign titled ‘I learned the hard way’ about the risks associated with investment opportunities.
CIMA said it has recognised through its work that investment mis-selling is a growing issue among its registered entities and consumers. As the market is becoming increasingly diverse and individuals are becoming more vulnerable, the campaign will seek to address these issues and help investors avoid potential fraud.
CIMA Managing Director Cindy Scotland said in a press release, “As principal regulator of the financial services industry, CIMA plays a critical role in promoting investor protection and protecting the reputation of the Cayman Islands as a leading financial services centre.
“As such, investor education remains a top priority and through this campaign, we look forward to empowering investors, both locally and abroad, to take control of their financial resources and make informed decisions.”
A dedicated webpage will act as a centrepiece for the campaign and an informational resource for users. A series of tips will also be shared weekly via CIMA’s LinkedIn and Facebook social media platforms, along with related blog articles and other material.
According to the press release, messages will highlight basic financial concepts, including the importance of understanding that all investments entail risk, learning the right questions to ask when choosing an investment, recognising common red flags of illegal cash investment opportunities, and complaint handling and reporting.
For more information, visit www.campaign.cima.ky
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