From: Out-Law.com
Policy makers should make more use of data to inform legislative or regulatory interventions, an expert has said.
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“For example, in the financial advice market, where there is a continuing debate over what information tools and features constitute regulated financial advice and which ones merely amount to guidance, greater uses of data could help the regulator provide more insight on the extent to which tools influence investors’ understanding of their options and decision-making and draw a clearer distinction on where the line between advice and guidance should be,” he said.
Scanlon said that it was welcome to see the Financial Conduct Authority (FCA) highlight the potential for data to better inform regulation in a new paper entitled ‘Economics for Effective Regulation’ (63-page / 1.05MB PDF).
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