For Organisations
Here are key reasons why companies should seek proper regulation:
Trust and Credibility:
Builds customer confidence in your business. Demonstrates commitment to professional standards. Shows financial stability and transparency. Makes it easier to partner with other regulated businesses. Helps attract serious investors and stakeholders.
Legal Protection:
Clearer operational framework and guidelines. Better protection against legal challenges. Reduced risk of unintentional compliance violations. Structured approach to dispute resolution. Protection from certain types of liability.
Business Growth:
Access to mainstream financial services. Ability to work with major retailers/distributors. Easier to expand into new markets. More opportunities for business partnerships. Better terms with suppliers and vendors.
Market Advantage:
Differentiation from unregulated competitors. Higher customer retention due to trust. Access to industry support networks. Better reputation with insurers. Stronger position in contract negotiations.
Risk Management:
Structured approach to handling customer funds. Better fraud prevention systems. Clear procedures for customer complaints. Professional standards for staff conduct. Regular audits and assessments.
Consumer Benefits:
Better consumer protection mechanisms. Clear complaint resolution procedures. Standardized service levels. Transparent pricing structures. Guaranteed service standards.
