Legality and Moral Standard of Financial System
In the financial systems, there are three main participants, lender, borrower and intermediary (financial institution), who make deal in market transaction. The reputation of financial systems is the foundation of their survival and development. If they do something illegal or immoral, even though they perhaps get the temporary benefit, from the long term, people will lose their confidence to them, and they will burden the punishment of losing reputation. In order to keep the system running smoothly, all the participants must comply with the certain market rules, law, regulation and moral standard. If they fail to do so, we will confront a society without honesty and trust, and the order of the market will trap into chaos. Everyone will be damaged without any benefit.
Function of Financial Institution
Regulation of Government Agencies for Financial Systems
Function and Supervision of Offshore Financial Centers
Conclusion
Bibliography
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