Lack of domain expertise: The resolution corporation is a generalized regulatory body it may not be aware about the technical and sector specific nuances. Thus it may not possess domain expertise in the relevant financial sector.
Way Forward
The act is a step in right direction to take preventive step against any possible trouble in financial firm so as to lower the negative impact on the economy.
The issues raised need to be resolved amicably by involving all stakeholders. At the same time the government must follow Regulatory impact assessment model before establishing a new regulatory body.
