What are the 4 main objectives of the FCA?
protect consumers – we secure an appropriate degree of protection for consumers.
protect financial markets – we protect and enhance the integrity of the UK financial system.
promote competition – we promote effective competition in the interests of consumers..
Why do banks need regulations?
The most important rationale for regulation in banking is to address concerns over the safety and stability of financial institutions, the financial sector as a whole, and the payments system. … Its objective is to adopt more market-oriented regulatory measures.
What is the purpose of financial regulation?
Financial regulation aims to maintain the integrity and stability of the financial system, secure adequate consumer protection, reduce financial crime and maintain market confidence.
What is regulation and why is it important?
Regulations are indispensable to the proper functioning of economies and societies. They underpin markets, protect the rights and safety of citizens and ensure the delivery of public goods and services. At the same time, regulations are rarely costless.
What are the main purposes of regulatory policies?
Regulatory policy is designed to achieve efficiency and equity, which requires the government to intervene, for example, to maintain competitive trade practices (an efficiency goal) and to protect vulnerable parties in economic transactions (an equity goal).