Another stage of the D2 training cycle -Women squared, the financial education course developed by the Global Thinking Foundation with the support of Assiom Forex, was held in the Great Hall of the University of Catania.
The meeting, addressed in particular to women, focused on the issue of family self-protection linked to investment consultancy, a highly topical topic considering all the practical consequences that will derive from the mandatory application of the protection rules established by the legislation Mifid II in force from next January 2018.
The meeting was attended by Claudia Segre (President of the Global Thinking Foundation and member of the Advisory Board of the VI Finance Commission of the Chamber of Deputies), Maurizio Caserta (Economics and Business, University of Catania), Cristina Bracaloni (Consob), Carla Rabitti Bedogni ( President of OCF), Giovanna Vannella (Bank of Italy Supervision Division), Marco Tofanelli (General Secretary of Assoreti), Vincenzo Dimase (Mifid II Assiom Forex Commission).
In particular Claudia Segre, President of the Global Thinking Foundation, argued "three crucial aspects emerged from the conference debate: Responsibility, Ethics and Opportunity, these are the three key words of the modification system to the MiFID Community Directive called MiFID II, which has the main objective is to ensure protection for those who make investments with particular regard to those with less knowledge of financial instruments (families, young and old). And that involves distributors and placers of financial products in an important way, also on the levels of knowledge and skills that the consultants will have to demonstrate to be able to transmit to customers according to well-defined curricular guarantees and characteristics. But beyond the new rules of conduct that will oblige all financial institutions to act according to well-defined ethical, informational and operational principles, the aim was to strengthen the scope of saver/investor protection in a uniform and widespread way in all countries of the European Union. The recent controversies on the need to extend the entry into force of the new regulations in Italy, due to the accumulated delays on the secondary legislation linked to the implementing measures (still in a draft state), do not seem destined to go away. As a result, we are lagging behind the other EU countries and we are in trouble about the complete adaptation of IT infrastructures. A non-trivial aspect for a country that is facing the ongoing digital revolution of financial services with a low level of digitization and serious gaps in financial and economic skills especially among young people, women and the elderly."
Vincenzo Dimase, Head of Market Development, Trading – Continental Europe Thomson Reuters, Co-Head of the Mifid II Commission of Assiom Forex: “Mifid II represents a great opportunity for greater transparency and is a challenge for the actors involved: to find, process, archive a multitude of data will be the most difficult exercise and requires an investment and a different culture. Reading, aggregating and normalizing the multitude of data that Mifid II will bring with it will also be a great opportunity for those who know how to interpret this data. Furthermore, alongside the application of the legislation, we are starting to work on ethics, on the necessary education to put the new rules into practice effectively”.
Global Thinking Foundation?
Founded in 2016, Global Thinking Foundation (GLT) was born with the mission of promoting financial education, targeting high school and university students, investors and savers. The foundation has embarked on a path of innovation and research in this area (estimated among the best CSOs - Civil Society Organizations - emerging in the sector at European level), developing projects for the diffusion of economic citizenship and supporting a value-based approach to the economy and to finance.
The Global Thinking Foundation's commitment is therefore aimed at supporting an aware culture of savings and its management: financial education is in fact a necessary objective, which must be accompanied by the process of improvement - already underway - of the regulation of the financial system , so that the latter can be more robust, secure and transparent.
Through an approach of constant collaboration with foundations, associations, financial and governmental institutions, the Foundation turns its gaze to various national initiatives and beyond, promoting scholarships and masters for deserving students in the field of economics and finance and realizing educational projects dedicated to gender and adult policies.
GLT Foundation goes beyond the Italian borders: it holds a front-line position among the promoters of Financial Literacy at OECD level and shares the commitment of civil society in achieving the objectives of the IMF's SDG2030 Agenda (Sustainable Development Goals), regularly participating also at the Annual Meetings as CSO delegate.
D2 –?WOMEN SQUARED is an initiative of the Global Thinking Foundation in collaboration with ASSIOM FOREX for the promotion of financial and entrepreneurial education courses addressed exclusively?to women.?
The project involves a team of 30 ?women who, thanks to their experience in the world of finance, have made themselves available to hold free ?financial education courses for the benefit of other women who are experiencing a moment of difficulty and wish to get back on track game.
Support is offered to women who have experienced events linked to situations of economic isolation, veterans of divorce or domestic violence, to return to being protagonists and to emerge from social and occupational exclusion.
The digital economy offers numerous opportunities to women who wish to get back into the game, even as entrepreneurs, but this path must be supported by a solid financial and economic background. Women who intend to access forms of teleworking or remote work need notions of financial planning to also manage the needs of the family and any children.
With this project, Global Thinking Foundation has brought together women of value and with great experience gained within banks and institutions, who immediately accepted the challenge of engaging in?something effective for other women?and enthusiastically shared the goal of social inclusion, in line with the dictates of the International Monetary Fund and the World Bank (which? aim by 2020 to contribute to global growth, promoting the financial inclusion of those adults who are not involved in the financial system formal, allowing them to gain access to current accounts and means of financial settlement).
The courses, which began in September of this year, did not include the family planning and financial planning modules. The module dedicated to entrepreneurial planning will be added in 2018.
Attachments: GLT Foundation – Catania conference
