Salvatore Rossi: Financial education and risk literacy

Opening remarks by Mr Salvatore Rossi, Senior Deputy Governor of the Bank of Italy and President of the Institute for the Supervision of Insurance (IVASS), at the 2nd Workshop on Behavioural Financial Regulation and Policy, organized by the Bank of Italy and the Herbert A. Simon Society, in cooperation with the Max Planck Institute for Human Development, Rome, 11 December 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Today we mark the second edition of the Workshop on Behavioural Financial Regulation and Policy here at the Bank of Italy. Part of it will be dedicated to the presentation and discussion of the BeFAIRLY report, which is ambitiously titled "The Behavioural Finance Revolution: A New Approach to Financial Policies and Regulations" (edited by Viale, Mousavi, Alemanni and Filotto).

The remaining part of the workshop will be dedicated to issues that are very dear to us regulators: financial education and risk literacy. Subjects that, in the wider context of a consumer protection framework, have seen in recent years some growing and fascinating research advancements, as well as an ever increasing body of evidence coming from implemented policies around the world.