Part I The Regulator

The regulatory objectives

5 The protection of consumers.

1

The protection of consumers objective is: securing the appropriate degree of protection for consumers.

2

In considering what degree of protection may be appropriate, the Authority must have regard to—

a

the differing degrees of risk involved in different kinds of investment or other transaction;

b

the differing degrees of experience and expertise that different consumers may have in relation to different kinds of regulated activity;

c

the needs that consumers may have for advice and accurate information; and

d

the general principle that consumers should take responsibility for their decisions.

C13

“Consumers” means persons—

a

who are consumers for the purposes of section 138; or

b

who, in relation to regulated activities carried on otherwise than by authorised persons, would be consumers for those purposes if the activities were carried on by authorised persons.