Problem
Select a regulatory issue impacting the Canadian Financial Services Industry and answer the following questions:
a) Who governs the regulatory issue selected? (What regulator/regulators) and under what regulation? (Act or Regulation depending on the issue chosen).
b) What is the implication of the Financial Institution, the customer and society, of the issue if it/they are not addressed?
c) What would be a 'risk based' approach to managing the issue?
d) Would the issue be better managed via a rules-based approach or a principles-based approach? Explain.