On August 30, the SEC issued a study, as required by Section 917 of the Dodd-Frank Act, with findings on: (i) the existing level of financial literacy of U.S. retail investors; (ii) methods to improve the timing, content, and format of information disclosed to investors; (iii) the most useful and understandable relevant information needed for investors to make informed financial decisions; (iv) methods to increase transparency of expenses and conflicts of interest in transactions involving investment services and products; (v) the most effective existing private and public efforts to educate investors; and (vi) a strategy to improve financial literacy of investors.  SEC ReleaseSEC Study.