: They must have robust systems to ensure all parties follow applicable laws and standards, which protects investors from legal or reputational damage.
: Wholesalers, retailers, agents, and brokers (e.g., real estate or literary agents). intermediaries
: Intermediaries manage and diversify risks for their clients, such as a mutual fund spreading an investor's capital across various stocks to reduce the impact of a single failure. : They must have robust systems to ensure
