The primary objectives of the Regulation is to protect Consumers and contribute to the overall stability of the Financial Services industry. The Regulation and supporting Standards promote a culture within Licensed Financial Institutions of respecting and acting in the best interest of Consumers and specifically aim to protect Consumers by defining the Institutional obligations for the protection of Consumers that include:

• Setting standards of Business and Market conduct by Licensed Financial Institutions.
   
• Strengthening the governance and oversight over the design, promotion and sale of Financial Products and/or Services;
   
• Promoting responsible financing practices to protect consumers from becoming over indebted;
   
• Ensuring the quality and timing of effective disclosure to consumers by Licensed Financial Institutions regarding matters and/or risks that may affect a Consumer’s decision to purchase a Financial Product and/or Service;
   
• Providing Consumers with the access to the right information at the right time to provide the Consumer the opportunity to make informed decisions;
   
• Addressing unreasonable barriers and limits to fair competition and Consumer choice;
   
• Implementing clear and reasonable mechanisms by Licensed Financial Institutions for redress of Consumer Complaints;
   
• Improving Consumers’ knowledge, awareness and ability to assess Financial Products and/or Services; and
   
• Promoting inclusions for all segments of society by eliminating unreasonable barriers or practices that limit access to Financial Products and/or Services.