There are many common ways to define financial literacy. Generally these are the kinds of things that are contemplated at this time. I've sometimes seen it described without the words “financial risks” taken into account in the wording. Usually we're talking about making sure that people have the knowledge—so that's the disclosure—the skills, and then the ability to make decisions, to act on the knowledge and skills.
At this point in time, that kind of definition seems in line with others, but whether it will be in line with what is expected on financial literacy in a year, two years, five years.... Really, the approach in drafting is that if one intends the meaning to reside in the current state of affairs, in what is commonly accepted, one relies on the ordinary-course meaning instead of a static definition.
I don't think I can point to a specific aspect that is not appropriate.