It’s evident that consumer protection is becoming a core prudential issue, part of the process of creating a fair market infrastructure. Failure to comply is no longer a cost of doing business – it can destroy value.
To simply delegate (and relegate) consumer protection to a compliance or risk function would be a major mistake – one that risks missing an opportunity to unlock major competitive advantage.
Regulation may be the principal driver of all this change. But it’s consumer protection that should now be seen as one of a company’s top strategic and cultural issues – a business concern to be considered at board level and across all operations and functions.
This latest report offers an at-a-glance round of consumer protection related developments.