Define statutory, co-regulatory and self-regulatory frameworks, including advantages and disadvantages. As part of your response provide a relevant example of each framework.

Define statutory, co-regulatory and self-regulatory frameworks, including advantages and disadvantages. As part of your response provide a relevant example of each framework. Response is limited to 40 lines. Provide details of a regulator who uses a co-regulatory model and give an example of how they do this, including any relevant documents/resources that they use. Explain the differences between investment and risk based financial products. Give two examples of each and provide details of when/why they are used. Summarise the differences between the prudential regulation provided by the Australian Prudential Regulation Authority (APRA) and the consumer protection regulation provided Australian Securities & Investment Commission (ASIC) in relation to financial products. Bill Jones is a public servant and he and Mary have recently married. They have decided that they want to purchase their first home together. They have been referred to a mortgage broker – Getting Started Loans, and speak to Fred Smith there. Fred generally uses the ABC bank for his clients as not only do they offer a good interest rate for clients but Fred also receives and additional $1K on top of his normal fees for each loan he introduces there. Advise what actions that Fred Smith is required to undertake in providing services to Bill and Mary. Ensure you cover key definitions and activities as part of your response.