Technology has changed how services are developed and delivered to customers. Regulators are hard-pressed to figure out how to respond, what to regulate, and what to leave aside.

Manufacturers of cars or microwave machines are duty bound to ensure that their products are safe for use. Why can’t financial regulation introduce a similar obligation to ensure financial products and services are not negligently developed and sold, causing harm to consumers?

When clear rules that govern the financial sector are enforced well, it ensures that both providers and consumers emerge from the market place as winners