Financial Regulations
Financial regulations are a set of rules, laws, and standards established by governmental or regulatory bodies to govern the financial industry, ensuring stability, transparency, and consumer protection. They cover areas such as banking, securities, insurance, and anti-money laundering, aiming to prevent fraud, manage systemic risk, and promote fair markets. Developers working in fintech, banking, or financial services must understand these regulations to build compliant software and systems.
Developers should learn financial regulations when building applications in fintech, banking, or investment sectors to ensure compliance with legal requirements like GDPR, PCI-DSS, or SOX, avoiding penalties and building trust. This is crucial for roles involving payment processing, data security, or financial reporting, as non-compliance can lead to fines, legal issues, or system failures. Understanding regulations helps in designing secure, auditable systems that meet industry standards.