On the other hand, there is a need to regulate risks to consumers and extend consumer protection to these emerging sectors. Existing international instruments are not yet sufficient. For example, the General Principles on Remittances were issued by the Bank for International Settlements and the Committee on Payment and Settlement Systems in 2007 to set out public policy objectives to guide policy makers and regulators to achieve “safe and efficient international remittance services. To this end the markets for the services should be contestable, transparent, accessible and sound”17. While they are a useful set of principles, consumer protection only figures as a part of one of the stated principles, and then jointly with transparency. The principle, dealing with ‘sound, predictable, non-discriminatory and proportionate legal and regulatory framework in relevant jurisdictions’, uses the language normally used in the context of preventing discrimination against particular service providers rather than against particular consumers. The principles also cover ‘Roles of remittance service providers and public authorities’, but the recommendation for industry participation in governance is not accompanied by any parallel recommendation for consumer participation. So the BIS/CPSS principles clearly have some way to go before they could be described as consumer orientated.