> The happy fact of the matter is that the vast majority of actors in the economy seem to be pretty well-behaved. That's mainly because, in most countries, to

> The happy fact of the matter is that the vast majority of actors in the economy seem to be pretty well-behaved. That's mainly because, in most countries, to become a participant in a regulated financial system, you have to meet the 'fit and proper' criteria of qualification [https://www.bis.org/publ/bcbs47c4.pdf https://www.bis.org/publ/bcbs47c4.pdf]. There are continuous audits and enforcement/disciplinary actions taken to ensure regulatory compliance. Also, digitisation has enabled tech based regulatory/supervisory tooling to reduce the burden of regulatory/supervisory activities. And, as newer/faster tech based mechanisms/rails have gained adoption older more cumbersome rails are getting retired. This is leading to effective regulatory simplifications.