Financial Services Act

The Financial Services Act is a law that regulates and oversees financial institutions and markets to promote stability, transparency, and consumer protection. It sets rules for banks, insurers, investment firms, and other financial entities to ensure they operate responsibly and fairly. The act also establishes regulatory bodies responsible for supervising compliance, handling disputes, and enforcing laws. Essentially, it aims to create a secure financial environment where consumers' interests are protected, and systemic risks are minimized, fostering confidence and stability within the financial system.