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The Difference between Prudential and Protective Regulations - Research Paper Example

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The 1st part of "The Difference between Prudential and Protective Regulations" paper explores the differences in terms of rationale and scope. In the 2nd part, the differences between prudential and protective regulation in EC are measured in relation to the scope, features, and enforcement…
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The Difference between Prudential and Protective Regulations
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Download file to see previous pages Governments attempt to regulate and organize different fields of life in their respective countries. This need for regulation has been created for a number of reasons. One prominent reason may be attributed to the fact that the government may assess a certain industry having a significant impact on the economy thereby embarking on a regulation endeavor. By these regulations, the government will be able to protect its markets from failure, leading to unwanted deficiencies such as monopoly, windfall profits, anti-competitive behavior, and predatory pricing.

One of the most important types of regulations that endeavor to protect consumers and restore confidence in the financial markets as being genuine is the regulation of the financial service.2 In the UK, the financial service regulations have improved from the corporatist laisser-faire3 model to system of self-regulation which was produced by Financial Services Act 1986.4 The financial services authority FSA5 was established in 1997 as a result of the disability of self-regulation and other systems to join alongside the requirements of the financial services industry.6 Three years later, the Financial Service and Market Act 2000 was issued and given the Financial Service Authority (FSA) statutory powers.7 The main duties of FSA as having been mentioned in the Financial Services and Market Act (FSMA) are “rule-making, preparing and issuing codes, giving general written guidance and determining its general policy and principles by reference to which it performs its other functions”.8 Regarding the financial market regulations, there are two important types of regulations that can be issued by authorities to secure the financial markets; those are prudential and protective regulations. 
Each of the prudential and protective regulation has been issued to operate and protect the financial market but in different ways. ...Download file to see next pagesRead More
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