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Keywords:

  • financial regulation;
  • Self-regulation;
  • Financial innovation;
  • Financial services reform;
  • Codes of conduct;
  • Dispute resolution schemes

Financial regulation needs to facilitate continuing innovation by local financial institutions operating in a global market, while ensuring a healthy and robust local market. This paper examines the role that effective self-regulation plays in achieving these objectives. It identifies some weaknesses in the current arrangements and provides suggestions for improvements.