Investors can suffer if markets are not resilient and liquidity disappears in times of stress, when it may be needed most. And financial intermediaries operating in the best interests of investors, safeguarding the integrity of markets, is a necessary precondition for financial stability.
To illustrate the point around complementarity of objectives with a more practical example, take the global policy discussions around anti-dilution tools for open-ended funds.9 These entail positive investor protection benefits, by ensuring that redeeming investors bear the cost of redeeming shares in open-ended funds.