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In doing so it put its own statutory objectives at risk.
It was given four statutory objectives: market confidence, public awareness, consumer protection and reduction of financial crime.
This is a vital power for the regulator to make sure markets work well for consumers, so that it is able to meet its statutory objectives.
We are faced with no such regulation in this case, but rather with an agency's mere assertion that state law is an obstacle to achieving its statutory objectives.
"There should be a greater choice of home insurance policies for customers at risk of flooding, and those policies should be more affordable," says Flood Re, which is a publicly accountable body with statutory objectives and powers.
"Our statutory objectives and authorities focus on financial products and services for consumers," Dan Sokolov, the bureau's deputy associate director of research and regulations, said in prepared testimony before the panel.
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The second statutory objective of Britain's Financial Services Authority is to promote public understanding of the financial system.
§ 110.12 Exceptions to the rules against age discrimination: Normal operation or statutory objective of any program or activity.
To give the FSA a new statutory objective of financial stability and tougher powers and penalties against misconduct, including regulation of "systemically" important hedge funds.
Six initial enabling conditions contributed to moving the MLPA Initiative forward, ultimately meeting the statutory objective of redesigning the statewide system of MPAs.
8 Section 2 of the Agricultural Adjustment Act of 1938, 7 U.S.C.A. § 1282, declares it to be the policy of Congress to achieve the statutory objective through loans.
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