Market failures in the financial services industry, Business Law and Ethics

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Question:

State whether the following statements are TRUE, FALSE or UNCERTAIN. Briefly (two or three paragraphs) give reasons for your answer.

(a) There are no market failures in the financial services industry.
(b) Regulatory structures reflect innovation and other developments in the financial services industry.
(c) Good corporate governance is a key component of a sound financial system.
(d) International financial regulation or cooperation is always ineffective.

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