Open AccessCan Regulation Improve Financial Information and Advice?
Author(s) -
Sharon Tennyson
Publication year - 2015
Publication title -
international review of financial consumers
Language(s) - English
Resource type - Journals
eISSN - 2508-464X
pISSN - 2508-3155
DOI - 10.36544/irfc.2016.1.1-1
Subject(s) - financial literacy , european union , financial regulation , regulatory reform , business , finance , accounting , economic policy , political science , economics , market economy
Many governments are considering strengthening regulations for financial advisors. New regulations have been enacted in a number of countries, including the United Kingdom, Australia, the Netherlands, Singapore, and United States. Many other countries, including Canada and the European Union as a whole, are actively considering new regulations. Interest in these policies reflects both the disappointing progress on improving consumers’ financial literacy, and the recognition of significant conflicts of interest in these markets. This article discusses rationales for regulatory reform and considers various approaches to reform.