Australian financial service legal supervision needs to be improved
August 26, 2019 09:25 Source: "China Social Sciences", August 26, 2019, No. 1764, author:

Comprehensive foreign media report on August 19,The official website of the University of Melbourne, Australia published an article by Andrew Godwin, deputy professor of the school's law school,Australian regulatory laws formulated in Australia are not clear enough,As a result, there are some improper behaviors and scandals in the industry,Reduced the public's confidence bet365 best casino games in the financial service department。In many cases,The principle of legal maintenance should be,However, there are some exceptions or restrictions that are difficult to explain and use,This leads to the regulatory agency when performing these rules,The difficulty is further increased。

Gudewin Example,According to Australian law,Financial consultants are providing suggestions,Responsible for maintaining bet365 best casino games the "best interests" of customers。initial,This is used as a broad principle。But then a clause called "safe port" appeared later。When the financial adviser was unable to maintain the "best interests" of customers, it was claimed by claims,This clause can provide some defense reasons for financial consultants。This terms stipulate,As long as the financial consultant completes the customer goal、Specific steps such as financial status and demand,It means that the financial consultant has fulfilled its duties。Goodwin thinks,This clause exclude professional judgment of this necessary principle,further affecting the true interests of customers。

When talking about how to simplify the legal framework of the financial service industry,Goodwin bet365 live casino games said,Australia needs to build principles -based、Regulatory framework centered on the result。other,The core goal of the financial service system and the key to their regulatory policies is to pay attention to consumers' financial status。This new framework can encourage participants bet365 best casino games in the financial service industry to cooperate with each other,Create financial wealth together。It has adaptability and flexibility,The rapid change that can be adapted to technology and innovation,The rules and regulations are more likely to be modified and updated。In short,The formation of laws and regulations of bet365 Play online games the Australian financial service industry,It must be based on improving consumers' financial benefits。

(Wang Junmei/Compilation)

Editor in charge: Cui Cen
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