In exercising its powers and functions, the QFC Regulatory Authority has regard to the following statutory principles:
- the need to use its resources in the most efficient and economic way;
- the desirability of facilitating innovation and fostering the international competitiveness of the QFC;
- the desirability of fostering competition between those who are subject to regulation by the QFC Regulatory Authority;
- the principle that the QFC Regulatory Authority should exercise its powers and functions in a fair and transparent manner;
- the need to comply with such generally accepted principles of good governance as it is reasonable to regard as applicable to it;
- the need to balance the burdens and restrictions on firms with the benefit of regulation; and
- the need to act in accordance with all laws and Regulations to which it is subject.