Regulatory agencies lack resources to police innovative financial products
Evidence
Most regulatory agencies are ill equipped to oversee adequately laws that are already on the books. Given the complexities of innovative financial products, overseers are likely to be even less equipped to do their job without increased operational resources. — Albert Bandura, Moral Disengagement, 1532
Categorization
Category: Factual Claims
- SEED: Angle: the asymmetry between fast-moving financial innovation and slow, under-resourced regulators as a structural feature, not a bug — regulators are structurally outmatched by product sophistication.