Explanation:
Option C is incorrect because the Dodd-Frank Act did include significant consumer protection provisions, most notably through the creation of the Consumer Financial Protection Bureau (CFPB). While the primary focus of Dodd-Frank was indeed on reducing systemic risk and regulating the financial system, it also contained comprehensive consumer protection measures.
Analysis of each option:
The Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) was named specifically to highlight its dual focus on both financial system reform and consumer protection, making option C factually incorrect.
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From a consumer protection perspective, which of the following statements is incorrect?
A
MiFID I introduced pre-trade transparency requirements to improve market efficiency and protect investors.
B
MiFID II expanded on the consumer protection measures of MiFID I by including rules on product governance and independent investment advice.
C
The Dodd-Frank Act was primarily focused on reducing systemic risk and did not include provisions related to consumer protection.
D
MiFID II requires firms to ensure that financial products are marketed and sold only to clients for whom they are deemed suitable.
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