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Essay / Research Paper Abstract
This 8 page paper considers the way in which the financial industry may be regulated, considering the advantages and disadvantages of different approaches, including statutory and self-regulation with a discussion concerning the underlying concepts that support different models of regulation. The bibliography cites 10 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEfinregu.rtf
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Unformatted sample text from the term paper:
the conditions within which the crisis occurred. More recently the credit crunch of 2008/9, which has resulted in the failure of many banks, and difficulties within the financial services industry
as a whole, requiring government intervention in many countries in order to save the economies, have also come to the attention of those who consider regulation as a way of
helping to prevent problems. The aim of this paper is to consider the concept of financial regulation, look at the way in which you can occur, and then consider how
it may be implemented looking at the advantages and disadvantages that may be associated with self-regulation or the regulation through a governmental body. There is disagreement that the financial industry,
banking and other financial services, require some degree of regulation. However, there is disagreement regarding the way that regulation takes place. Weetman (2006) presents an argument which may be seen
as aligned to the concepts of Friedman and Lassiez Faire economics, where regulation is not seen as necessary, he states that "in a market-based economy, competitive forces will ensure that
those providing information will meet the needs of users" (p.87). However, as seen with in the latest credit crunch the way in which competitive forces are brought to bear and
lessons are learnt can have a high cost and far-reaching impacts not only on the industry itself, but on the living conditions and lifestyles of those who are directly related
to that industry, participating in it, and those who chosen not to participate directly in the market. The problem with the financial industry is the impact it has on the
economy as a whole. While Rajan (2006) may state that it is up to individuals participating in the financial industry to determine which transactions they want to undertake, and to
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