Why is there a need for regulation of the financial system?  What are the objectives of the FMA and of RBNZ Prudential  regulation, as set down in legislation?  What are current challenges facing the FMA and RBNZ as financial regulators?

1c) Explain the role of the Central Bank and critically evaluate the advantages and disadvantages of the Central Bank independence.

Which of the following regulatory events in the 20th century potentially influenced the financial sector? Passing of the Glass-Steagall Act Establishment of the Securities and Exchange Commission (SEC) Establishment of the Federal Reserve Banking System Repeal of the Glass-Steagall Act Securities Investor Protection Act passed

To what extent was the shadow banking system an important part of the 2007– 2009 financial crisis?   - what is shadow banking  - advantages and disadvantages of shadow banking - its role in the financial crisis - judgement and justification of the judgement