Statutory / Regulatory

Without the statutory / regulatory element, financial services could be easily compared to a trapeze artist performing without a safety net.  Should something go wrong for the trapeze artist performing without a safety net, the consequences are tragic.  Likewise, financial centres cannot afford to operate without statutory/ regulatory safeguards since they will run the risk of failure to the detriment of millions of individual and corporate customers, not to mention whole economies.  The statutory and regulatory aspect of financial services is all about the setting of standards and of monitoring the workings of the market. his ensures that operators do business in line with the appropriate laws and standards.  Therefore, people who work in statutory and regulatory agencies also have attractive career possibilities as much as those who are involved in the market.  Indeed the former have to be equally efficient and professional since it is they who contribute towards the safeguard of the financial system.