Adopting the Twin Peaks model as a consumer protection mechanism in the financial sector : the Ugandan perspective
The main objective of the study is to analyse the possibility of adopting the Twin Peaks model as a mechanism for ensuring protection to the consumers of financial services in Uganda. Uganda's financial sector has suffered impediments to growth and this can largely be attributed to the regulatory framework but also due to the absence in streamlined financial consumer protection. The Parliament of Uganda has failed to pass into law legislation required to protect consumers generally let alone financial consumers. The gaping hole created by lack of legislation puts consumers of financial services at risk of loss. This research paper shall give insight into the possibility of the financial sector adopting a new regulatory framework with inbuilt mechanisms for consumer protection. This research paper will also be a legal resource for literature pertaining to the correlation between a financial regulatory system and financial consumer protection.