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The paradox of independent regulatory consultants being trained by a regulator.

I was interested to read that the JFSC is now training independent regulatory consultants employed by firms to conduct regulatory effectiveness testing and root cause analysis for the JFSC. [image below]

The paradox of independent regulatory consultants being trained by a regulator lies in the potential conflict of interest and the question of true independence.

Regulatory consultants are expected to provide unbiased, objective advice to their clients. They are supposed to evaluate regulatory compliance and risks based on their expertise and independent judgment. However, if these consultants are trained by the regulator, it could potentially influence the consultant's judgment and compromise their independence. This is because the regulator's training might carry certain biases or perspectives that align with the regulator’s interests.

Having been trained by the regulator, the consultants might unconsciously adopt these biases, affecting their ability to provide truly independent advice. Moreover, there could be a perceived conflict of interest. Even if the consultants maintain their independence, the fact that they were trained by the regulator could create a perception of bias, undermining their credibility.

In conclusion, while training from regulators can enhance the knowledge and skills of regulatory consultants, it is crucial to ensure that this does not compromise their independence or create a perception of bias.

This paradox underscores the need for clear guidelines and safeguards to maintain the independence and credibility of regulatory consultants.


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