Washington State Department of Financial Institutions

News Release

Thursday, March 7, 2007

NASAA, SIFMA, and SIPC Join to Promote Investor Education With Updated "Understanding Your Brokerage Statement" Brochure

The Securities Industry and Financial Markets Association (SIFMA), the North American Securities Administrators Association, Inc. (NASAA) and the Securities Investor Protection Corporation (SIPC) today released updated editions of the popular investor education resource, “Understanding Your Brokerage Account Statements.” The publication is available in English and Spanish.

English: Understanding Your Brokerage Account Statements (PDF)*
Spanish: Entender Sus Declaraciones De la Cuenta De Corretaje (PDF)*

The guide, which provides investors with tips on analyzing their monthly statement, includes new content on fee based accounts, as well as answers to frequently asked questions, details on common features of most brokerage account statements, a step-by-step checklist on how to review them, and an extensive glossary of investment terms that investors may come across while reviewing their statements.

"SIFMA is committed to providing the highest quality educational resources for investors," said SIFMA co-CEO Marc Lackritz. "We look forward to working with our colleagues at NASAA and SIPC on other initiatives that help investors be more informed, ask great questions, and better understand the fundamentals of how the markets work.”

“State securities regulators have an ongoing obligation to help all of our constituents develop the knowledge they need to make good personal financial decisions,” said Joseph P. Borg, NASAA President and Director of the Alabama Securities Commission. “This joint effort with SIFMA and SIPC reflects our fundamental belief that financial education is the first and best defense against financial exploitation.”

“Our goal is to reach investors in both English and Spanish in order to create the widest and clearest understanding of how brokerage statements work and what they tell you,” SIPC President Stephen Harbeck said. “In cooperation with NASAA and SIFMA, we hope to continue to provide high-quality educational materials for investors so they are as well-informed as possible.”

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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