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Regulatory regimes

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asked Sep 12 in BUS 4027W - Actuarial Risk Management by anonymous

What is the difference between voluntary codes of conduct and self regulation. It seems that when a financial services industry draws up voluntary codes of conduct, that is the definition of self regulation. 

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answered Sep 12 by rohin_jain (640 points)

I understand what you mean. Perhaps self regulation is more the case when even a code of conduct is not needed? If everyone in the market is well-informed, there is no need for regulation at all (to reduce information asymmetry)?