An important task for regulators going forward is for them to ensure that financial innovation is closely monitored and occurs only after it receives approval from the government.

Question

Quizplus · Accepted Answer

Financial innovation often occurs in response to market needs or technological advancements and does not always require prior approval from the government. Regulators do monitor and may regulate new financial products or services to ensure they comply with existing laws and do not pose undue risks to the financial system or consumers, but this does not mean all innovation must receive government approval before occurring.

An Important Task for Regulators Going Forward Is for Them