The wider objective of financial industry oversight is to deter unethical and illegal behaviour, to foster a sound and reputable financial centre and to promote financial stability. (a) It is not possible to prevent all regulatory breaches. However, enforcement function plays a key role in financial oversight. Discuss. (b) There are too many regulatory and legal enforcement agencies in Mauritius to have consistency and expertise in the enforcement functions across the banking, insurance, capital markets and other sectors. Discuss.