Cooperation agreement for the preparation of educational materials to support the Core Competencies for Financial Education

Transcription

1 Cooperation agreement for the preparation of educational materials to support the Core Competencies for Financial Education Between: National Council of Financial Supervisors, henceforth "CNSF", comprising the three financial supervisory authorities, herein represented by the Governor of Banco de Portugal, Carlos da Silva Costa, who chairs the Council, by the Chairman of the Portuguese Securities Market Commission, Carlos Tavares, and by the Chairman of the Portuguese Insurance and Pension Funds Supervisory Authority, José Figueiredo Almaça; Ministry of Education and Science, henceforth MEC, herein represented by the Secretary of State of Basic and Secondary Education, Fernando Egídio Reis; APB Associação Portuguesa de Bancos (Portuguese Banking Association), henceforth APB, having its headquarters in Avenida da República, 35-5.º, Lisboa, with tax identification number , herein represented by Fernando Faria de Oliveira, in his capacity as Chairman, and by Manuela Athayde Marques, in her capacity as Secretary-General; APS Associação Portuguesa de Seguradores (Portuguese Association of Insurers), henceforth APS, having its headquarters in Rua Rodrigo da Fonseca, 41, Lisboa, with tax identification number , herein represented by Pedro Seixas Vale, in his capacity as Chairman, and by Alexandra Queiroz, in her capacity as Director- General; APFIPP Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios (Portuguese Association of Investment Funds, Pension Funds and Asset Management), henceforth APFIPP, having its headquarters in Rua Castilho, 44, 2.º Piso, Lisboa, with tax identification number , herein represented by José Veiga Sarmento, in his capacity as Chairman, and by Marta Passanha, in her capacity as Secretary-General; - 1 -

2 ASFAC Associação de Instituições de Crédito Especializado (Association of Specialised Credit Institutions), henceforth ASFAC, having its headquarters in Rua Filipe Folque, 2-7.º, Lisboa, with tax identification number , herein represented by António Menezes Rodrigues, in his capacity as Chairman, and by Susana Albuquerque, in her capacity as Secretary-General; The APB, the APS, the APFIPP and the ASFAC, collectively referred to as the Associations ; and the CNSF, the MEC and the Associations, collectively referred to as the Parties. Whereas (a) (b) Under the National Plan for Financial Education (PNFF), the CNSF and the MEC together prepared the Core Competencies for Financial Education for kindergarten education, primary and secondary education and for the education and training of adults, henceforth "Core Competencies for Financial Education"; "Core Competencies for Financial Education" was approved by the MEC as the guidance document for implementing financial education in the school curriculum; (c) (d) (e) A need has been identified for educational materials for students and teachers which address the topics of the Core Competencies for Financial Education at the different learning levels; The CNSF, the MEC, the Associations and their members see the effective implementation of the Core Competencies for Financial Education in schools as key for promoting financial education in Portugal and developing this topic in line with international best practices and directives; The CNSF, the Associations and their members are aware of the benefits that better financial literacy levels bring to the general public, the society and the economy as a whole, and consider it as an important part of their social responsibilities to provide a contribution to this national project; - 2 -

3 (f) It is particularly important to establish the terms under which the cooperation between the Parties will proceed, in order to achieve the goals proposed by those parties. This cooperation agreement for the preparation of educational support materials for the Core Competencies for Financial Education is entered into and reciprocally accepted by the Parties, and is governed by the following clauses: First Clause (Object) 1. The object of this Agreement is the development of educational materials for supporting the implementation of the Core Competencies for Financial Education in the school curriculum, starting with a pilot scheme among primary school children. 2. The pilot scheme shall run in the 2015/2016 academic year and shall cover a sample of schools representative of the educational universe, namely in terms of geographical spread, such that a result evaluation may be conducted. Second Clause (Obligations of the CNSF and the MEC) 1. The CNSF is responsible for coordinating the development of the educational materials defined under this Agreement. 2. The CNSF and the MEC, through the Directorate-General for Education, undertake to: (a) (b) (c) Identify, in collaboration with the Associations, best practices in terms of implementation of the Core Competencies for Financial Education; Promote, in collaboration with the Associations, the creation and monitoring of the application of the educational materials; Identify, in collaboration with the Associations, the schools, the number of - 3 -

4 classes and the number of students involved in the development of the pilot scheme; (d) Share the assessment results of this Agreement's implementation with the Associations, in particular those of the pilot scheme referred to in the First Clause. 3. The CNSF also undertakes to: (a) (b) (c) Assess the technical adequacy of the educational materials; Present for the Associations' approval the cost plan for the development of the educational materials referred to in the First Clause; Disseminate the educational materials produced under this Agreement, namely through the websites of the entities making up the CNSF and the PNFF's portal 'Todos Contam' ('Everybody Counts'). 4. The MEC, through the Directorate-General for Education, also undertakes to: (a) Assess the adequacy of the educational materials for the Core Competencies for Financial Education through pedagogical and curricular validation; (b) Disseminate the educational materials in schools, through the websites of the Directorate-General for Education and other organisations or services under the purview of the Secretary of State for Primary and Secondary Education. Third Clause (Obligations of the Associations) 1. The Associations undertake to: (a) Disseminate the contents of this Agreement to their members, raising awareness of the importance of integrating financial education into the school curriculum and of its contribution to the development of this national project, through the participation of the Associations representing them, among others; - 4 -

5 (b) (c) Provide their financial education materials to the working group mentioned in the Fourth Clause; Comment on the educational materials; (d) (e) Present the financing of the editing and the printing of the educational materials produced under this Agreement, establishing the maximum sum for their contribution and the criteria for sharing costs between the Associations; Disseminate the educational materials, namely through the Associations' websites. Fourth Clause (Working group) 1. The Parties to this Agreement delegate the execution of the tasks needed for achievement of its object to a working group. 2. The working group is made up of the following: (a) the PNFF s Coordination Committee, as representative of the CNSF; (b) Representatives of the MEC, numbering no more than three, to be appointed by the MEC; (c) Representatives of each Association, to be appointed by the Associations. 3. The working group shall be chaired by the Chairman of the PNFF's Coordination Committee. 4. The working group is responsible for: (a) Drawing up the work plan to determine which educational materials to consider and develop, as well as the associated cost plan; (b) Gathering, assessing and approving the educational materials produced for subsequent final approval by the MEC, under the terms of paragraph 3 of the Fifth Clause of this Agreement; - 5 -

6 (c) Defining the schools in which the pilot scheme will be implemented. 5. The working group decides by consensus of its members. 6. To help assess the educational materials, the working group may consult and gather contributions from professionals and organisations with proven educational experience. Fifth Clause (Educational materials) 1. The educational materials shall be drawn up according to criteria of rigour, clarity and impartiality, in compliance with the Guiding Principles of the PNFF, addressing the educational level they are designed for. 2. Educational materials may be developed by the Parties to this Agreement or by third parties, where they are approved by the Parties and authorised for use free of charge by the originator. 3. The educational materials approved by the working group shall be submitted for final assessment by the MEC, through the Directorate-General for Education, in order to confirm their pedagogical quality, as well as their adequacy for the Core Competencies for Financial Education and the educational level they are designed for. Sixth Clause (Use of brands and logos) 1. The educational materials shall compulsorily contain the logos of the Parties to this Agreement, in a place to be determined, according to the Principles for Financial Education Initiatives of the PNFF. 2. The educational materials may also include logos of other entities that take part in drawing up and financing these materials, such as other PNFF partners, with the prior approval of the working group referred to in the Fourth Clause

7 Seventh Clause (Copyright) 1. All the educational materials produced by the Parties under this Agreement are protected by copyright as property of the Parties, with reproduction by third parties expressly authorised for not-for-profit educational activities. 2. The educational materials referred to in the previous paragraph shall state the following in an area to be determined by the working group: "Reproduction of this material, by photocopy or any other process, is expressly authorised by its authors, for not-for-profit educational activities." 3. The educational materials provided to the Parties by other entities are protected by copyright in general terms, except where the third parties agree expressly to the application of the system contained in paragraph 1 of this Clause to the materials it produces. Eighth Clause (Confidentiality) The Parties undertake not to disseminate the information provided by the counterparties as part of the execution of this Agreement, namely the subjects approached and discussed in the respective meetings, including the minutes, as well as the content of the educational materials analysed that are not yet in the public domain, except where expressly authorised by the Parties

8 Ninth Clause (Duration, Alteration and Denunciation of the Agreement) 1. This Agreement has the duration of one year from the signature date, and may be renewed for equal periods, through the express written confirmation of the Parties at least 60 (sixty) days before expiry of the period in progress. 2. Amendments to this Agreement may be introduced during its lifetime, through the express agreement of the Parties, by means of an addendum to the Agreement. 3. This Agreement may be denounced by any of the Parties at any time, through written communication sent by registered mail with delivery receipt. The denunciation is effective 30 (thirty) days after receipt of the letter. 4. The termination of the Agreement shall not prejudice the right of the CNSF, the MEC and the Associations to use the educational materials produced for the purposes established in this Agreement. Tenth Clause (Communication) 1. For the purposes of this Agreement, all communication between the Parties shall be made in writing by registered mail with delivery receipt, or by , using the following addresses: - 8 -

9 (a) (b) Comissão de Coordenação do Plano Nacional de Formação Financeira Address: Avenida Almirante Reis, 71, Lisboa address: Telephone: Fax: Ministério da Educação e Ciência / Direção-Geral da Educação Address: Avenida 24 de Julho, 140, Lisboa address: dge@dge.mec.pt Telephone: Fax: (c) (d) (e) (f) APB Associação Portuguesa de Bancos Address: Avenida da República, 35-5.º, Lisboa address: apbancos@apb.pt Telephone: Fax: APS Associação Portuguesa de Seguradores Address: Rua Rodrigo da Fonseca, 41, Lisboa address: cd@apseguradores.pt Telephone: Fax: APFIPP Associação Portuguesa de Fundos de Investimento, Pensões e Patrimónios Address: Rua Castilho, 44, 2.º Piso, Lisboa address: info@apfipp.pt Telephone: Fax: ASFAC Associação de Instituições de Crédito Especializado Address: Rua Filipe Folque, 2-7.º, Lisboa address: geral@asfac.pt Telephone: Fax:

10 2. The Parties shall communicate amendments to the addresses in the prior paragraph to the counterparties by registered mail with delivery receipt or by . Eleventh Clause (Entry into force) This Agreement shall enter into force on the date of its signature by the Parties. This Agreement is signed in eight copies by the representatives of the Parties, which also initial each page comprised in every version, with each Party taking possession of one version. Lisbon, 19 December Signatory Capacity Carlos da Silva Costa Governor, Banco de Portugal Chairman, National Council of Financial Supervisors Carlos Tavares Chairman, Portuguese Securities Market Commission José Figueiredo Almaça Chairman, Portuguese Insurance and Pension Funds Supervisory Authority Fernando Egídio Reis Secretary of State of Basic and Secondary Education Fernando Faria de Oliveira Chairman, APB (Portuguese Banking Association) Manuela Athayde Marques Secretary-General, APB (Portuguese Banking Association) Pedro Seixas Vale Chairman, APS (Portuguese Association of Insurers) Alexandra Queiroz Director-General, APS (Portuguese Association of Insurers) José Veiga Sarmento Chairman, APFIPP (Portuguese Association of Investment Funds, Pension Funds and Asset Management) Marta Passanha Secretary-General, APFIPP (Portuguese Association of Investment Funds, Pension Funds and Asset Management) Antonio Menezes Rodrigues Chairman, ASFAC (Association of Specialised Credit Institutions) Susana Albuquerque Secretary-General, ASFAC (Association of Specialised Credit Institutions)