WFIC - World Federation of Investors Corporation

The World Federation of Investors is an independent, not-for-profit organization whose members are primarily national shareholders' associations. WFI was formed to promote investor education and shareholder advocacy. WFI helps national shareholders associations and investor advocacy groups better serve their members. more
2014 WFI ANNUAL MEETING – September 25 – 26
2014 WFI Annual Meeting - Vienna, Austria

The Annual Meeting of the World Federation of Investors will take place in Vienna, Austria, on September 25-26, 2014.

Mark your calendars! more information here


Our annual meeting was held in Madrid, Spain. We were graciously hosted by the Bank of Spain, the Spanish Congress, and the International Financial Litigation Network (IFLN). This newly established network is the initiative of one of the leading and most esteemed law firms in Spain – Cremades & Calvo-Sotelo. Roger Ganser, Chairman of the World Federation of Investors (WFI), and President-Secretary General Dr. Jean-Pierre Paelinck, were invited as speakers and representatives of individual shareholders worldwide.

While meeting in the Bank of Spain headquarters we were told about a planned suit against the Spanish Bank. During the crises, the Bank of Spain decided to merge five or six failing banks into one new bank named Bankia. The Bank of Spain endorsed the mergers, a top three accounting firm gave its blessing, and the participating banks promoted the new shares to their savings account customers.

While the IPO was successful, there was no institutional investor participation. Six months later, Bankia filed bankruptcy. It seems that neither the Bank of Spain regulators nor the auditors fully analyzed or uncovered the pending losses.

Bankia Protestors

A leading lawyer in Madrid took the unprecedented action of suing the Bank of Spain. In Spain, as in many countries, there is no "class action" ability. So the lawyer is not only suing the Government Bank but is also attempting to establish the ability to represent the thousands of individuals who lost most of their life savings in the bank stock failure. When our group left the grand Bank of Spain headquarters we faced a large group of protestors, all shareholders of Bankia. They were common folk, many of them retirement age. A very sobering message and event for all of us.

2013 WFI ANNUAL MEETING– Madrid Spain
2013 WFI Annual Meeting - Madrid, Spain

The WFI Annual Meeting held on September 24-25-26, 2013, in Madrid, Spain, was attended by individual shareholder representatives from 25 nations. Mr. Frank Koneko of Japan provided a graphical introduction to the Stock Selection Guide titled "Up, Straight and Parallel." Dr. Wilfried Hübscher of Germany spoke about the changing but critical role of national stock exchanges in providing equity to growth companies and the national economies, while also enabling individual investors to build personal wealth with smart investing.

Photos by Aleksey Smirnov, Russia

WFI Madrid Annual Meeting

Our host in Madrid,
Hon. Henning Wegener

WFI Madrid Annual Meeting

Frank Kaneko, Japan

WFI Madrid Annual Meeting

Welcoming new member from Serbia, attending his first meeting in Madrid. From Left: Roger H. Ganser, WFI Chairman; Rajko Maric, Serbia; Jean-Pierre Paelinck, WFI Sec. General/President; and Frank Kaneko, Japan

WFI Madrid Annual Meeting

Madrid attorney Javier Cremades addressing the WFI-IFLN joint meeting regarding the need for shareholder protections/rights in the Spain and the European Union.

WFI Madrid Annual Meeting

WFI delegates at City of Toledo reception


Former WFI CHairman Lars-Erik Forsgårdh is now Chairman of the Swedish Academy of Board of Directors. The aim of the organization is to improve Swedish corporate governance by raising awareness of the importance of the work of boards and directors for profitability and growth. The Academy provides training, networking, recruiting, and opinion building.


Washington, D.C. – The Financial Industry Regulatory Authority (FINRA) announced the creation of a new Investor Issues Committee to advise FINRA staff on matters that significantly affect individual and institutional investors. WFI Chairman Roger Ganser was appointed to this committee as a representative of individual investors. Read more


The WFI Advocacy Committee was unanimously approved at the WFI Annual Meeting in Ljubljana, Slovenia. The Committee held its organization meeting with Advocate Hachem Boulos accepting the role and responsibility of Chairman of the Committee. WFI President Dr. Jean-Pierre Paelinck will serve as Secretary to the Committee. Also serving on the committee are Advocates Fausto Bongiorni, Paolo Brambilla, Maria Brandsdtetter, Antonia Marsaglia, Cristi Preda, Wilfried Hubscher, Rajko Maric, and Lawrence Sucharow.

The primary focus of the Committee will be on international, regional and national legislative and regulatory issues that concern the rights of individual investors.

Roger Ganser, WFI Advocacy Committee

WFI Chairman Roger H. Ganser


Increased involvement and interest in listed companies and the economy, participation in wealth building, and a reduction of the concentrated ownership in the listed companies are important aspects that argue in favor of increased direct individual share investment. Individual shareholders contribute to building a sustainable market economy through prioritizing companies that both take a financial responsibility and a societal responsibility. Personal investment in equity is of benefit to the individual, companies and society.

Successful shareholders are a prerequisite for a broad individual investment in stocks. Knowledge is fundamental to investment success. Therefore WFI and its member organizations promote investment education, based on proven investment principles and methodology. Fundamental Analysis and WFI Investing Principles provide valuable guidelines for more successful investment in stocks.

As an international organization WFI must try to understand and respond to a wide range of investor education needs. Consequently, our first course materials will be based on basic investor literacy and broad stock selection guidelines. Because some of our members have very advanced stock analysis methods and tools, we will also offer their valuable experiences. Both will be discussed at our annual meeting in Madrid in 2013.

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Personal investing in equity as a way of forming wealth should be promoted, since it enables individual investors to participate in the growth of business and thereby in the progress of nations and the world economy. Access to their own investment capital in stocks increases individuals' freedom of action and improves their chances of weathering financial difficulties. Private share ownership thus enriches the individual in a number of ways.

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