ITECA CEO: Balanced Regulation Crucial for Fair Markets and Innovation
Felix Pirie, CEO of the Independent Tertiary Education Council of Australia (ITECA), has stressed the importance of getting regulation right for the stock market today. He believes open, transparent engagement with industries and the stock market is key to effective regulation.
Pirie argues that transparency builds trust and encourages positive engagement with new or revised regulations. This approach ensures all players operate by the same rules, reducing risk and encouraging responsible innovation.
However, he warns against over-regulation. This can lead to greater non-compliance, stifle competition, and increase costs for businesses in the stock market. He also highlights the dangers of poorly designed or rushed regulations. These can choke growth, discourage investment, and harm those they're meant to serve in the stock market.
Pirie suggests that appropriate regulation supports growth, protects consumers, and keeps the stock market vibrant and fair. He advocates for consultation with businesses, industry bodies, consumer groups, and the public. This helps anticipate unintended consequences and adapt to changing circumstances, creating a level playing field that fosters innovation and protects consumers and businesses in the stock market.
Pirie's insights underscore the critical role of appropriate regulation in ensuring the stock market functions well. It impacts every person differently, and getting it right requires careful consideration and open dialogue for the stock market today.
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