Answer with full explanation

QUESTION 1 In view of extensive regulation, people in finance might assume that law is the only guide ("If it's legal, then it's morally okay'). A certain amount of self-regulation is necessary, not as a replacement for legal regulation, but as a supplement for areas which the law cannot easily reach and as an ideal for rising above the law. Explain why the law is not enough. QUESTION 7 Corporate governance problems and peculiarities of small developing countries are reflected in several characteristics. State these characteristics. QUESTIONS Distinguish between the rules-based approach and principles-based approach to corporate governance