You are invited to speak to a group of young professionals who are interested in joining...
You are invited to speak to a group of young professionals who are interested in joining the financial industry. The organizer requests that you speak on the importance of financial regulation. Using at least two real world historical situations, explain why it is important for financial institutions to be regulated.
Homework Answers
Answer:
Financial regulation- It is a set of rules and guidelines that aim to have supervision over financial institutions and financial markets so that financial institutions and markets may do smooth functioning.
Importance of financial regulation- Some points are as following:
- Financial regulators maintain the confidence in the financial system and among the investors.
- Financial regulators provide protection to the investors and provide them their rights, they protect investors from fraudulent practices.
- Financial regulators enhance the stability and trustworthiness of financial system.
- Financial regulators maintain the liquidity in the financial system.
Examples: After Subprime crisis 2007-08, many new reforms came into picture such as Dodd frank Wall street reform and Consumer protection Act.
After Enron and WorldCom scandal Sarbanes Oxley Act 2002 was established.
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