Facts on Saving and Investing Campaign SEC Guidelines for Participation

In December 1997, the SEC and the North American Securities Administrators Association (NASAA) announced plans to launch a first-ever, hemisphere-wide Facts on Saving and Investing Campaign scheduled for a kick-off the week of March 29 to April 4, 1998. From Canada to Chile, securities regulators throughout the Western Hemisphere will use this week to promote the importance of saving and investing wisely. In the U.S., the campaign will culminate in a National Town Meeting that will be broadcast live via satellite to down-link sites throughout the country. The SEC's official partners in the campaign currently include NASAA, federal agencies, industry associations, and consumer organizations.

The SEC has received many inquiries from companies and individuals who have expressed interest in supporting the campaign and have asked for guidance on how, and under what circumstances, they should get involved. In response to their inquiries, the SEC has developed these guidelines for financial industry groups, regulated firms or individuals, and companies.

These guidelines must be followed to preserve the educational spirit of the campaign and to comply with the ethical and legal requirements that govern the SEC. If you have any questions about how these guidelines apply to you, call the SEC's Office of Investor Education and Assistance at 202/942-7040 and ask for John Nester or Gerri Walsh.

1. Educational Nature of the Campaign: Financial industry groups, regulated firms or individuals, and companies should recognize that the campaign's sole purpose is to promote the importance of saving and investing wisely and to provide unbiased, educational information to the public. It should not be seen as a commercial opportunity. If anyone participates in any campaign activity, they should not endorse, or appear to endorse, any financial services firm, profession, activity, product, or service. They also should not use any campaign activities as a forum for lobbying for or against any legislation or SEC rulemaking.

2. Participation in the National Town Meeting: Financial industry groups, regulated firms or individuals, and companies that want to take down the satellite feed of the National Town Meeting (April 4, 1998, from 1:00 - 3:00 p.m. EST) and show it to the public-whether live or by a delayed video broadcast-should make the following statement at the beginning and end of their program:

The Securities and Exchange Commission and the North American Securities Administrators Association are holding a National Town Meeting to educate investors on how to save and invest wisely. We are presenting this broadcast of the meeting as a public service. The SEC and NASAA have asked us to tell you that they have not endorsed any particular firms, brokers, products, or services. By showing you this broadcast, we do not intend to promote [name of company]. And you should feel no obligation to purchase any products or services from us.

The SEC will make a similar statement during the National Town Meeting and in the rolling credits following the program.

3. Advertisements and Public Service Announcements: The SEC asks financial industry groups, regulated firms or individuals, and companies that want to support the campaign through advertisements, public service announcements (PSAs), and similar materials (such as statement stuffers or items in newsletters) to follow these guidelines:

If you want to use the campaign slogan or logo in advertisements, PSAs, or similar materials, please follow the guidelines in paragraph 4 in addition to the guidelines in this paragraph.
To preserve the educational spirit of the campaign, all advertisements, PSAs, or similar materials in support of the campaign should only be for the purpose of promoting investor education. They should not endorse any particular product, service, firm, professional, or profession.
Companies and regulated firms or individuals may state that they support the campaign, but they must not state or imply that they are partners with the SEC in the campaign.
Financial industry groups, regulated firms or individuals, and companies that want to distribute advertisements, PSAs, or similar materials in support of the campaign must neither state nor imply that the SEC has endorsed them, any of their employees, or their policies, activities, products, or services.
Financial industry groups, regulated firms or individuals, and companies may promote their investor education materials in advertisements, PSAs, or similar materials if the materials are free to the public or made available at cost.

4. Use of the Campaign Slogan and Logo: When the SEC's slogan and logo are released, you may use them for any campaign activity (including advertisements and PSAs) if you follow these guidelines:

Financial industry groups, regulated firms or individuals, and companies must not use the campaign slogan and logo to promote themselves or their products, services, or employees. They may, however, use the campaign slogan and logo in expressing their support of the campaign and to promote purely educational materials. By "purely educational" we mean materials that provide objective facts on investing and different types of investment products or financial services. Purely educational does not include materials that promote particular firms, products, or services.
Companies and regulated firms or individuals must not use the campaign slogan and logo in any way that implies that the SEC has endorsed them, any of their employees, or their policies, activities, products, or services. For example, they should not juxtapose their name or logo with the campaign's slogan or logo in a way that suggests they are official partners in the campaign. Our official partners in the campaign currently include NASAA, federal agencies, industry associations, and consumer organizations.
Whenever financial industry groups and regulated firms or individuals use the slogan or logo, they must make the following disclaimer:

The government agencies and their partners that organized this campaign have not endorsed any particular firms, brokers, products, or services.

5. Prohibition on Use of SEC Seal: Financial industry groups, regulated firms or individuals, and companies must not use the SEC's seal.