In general, the laws seek to provide for truthful disclosure to consumers, to assure the financial solvency of the institutions, and to a lesser extent, to make financial services accessible to all segments of the population.
One over-riding, and sometimes unstated concern of all the laws is to protect the economy. Without confidence in financial products and financial service providers, the great pool of investment capital that keeps the world economy moving would dry up. If you can not trust your bank to return your savings, would you keep money in a bank or under your mattress? If you were concerned that the insurance company would not be able to pay a claim, would you buy insurance? If you felt your stocks were only pretty pieces of paper – and your mutual fund investments just an entry on a monthly statement – would you keep your nest egg in financial assets or instead hoard gold?
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