Global

New Light on Old Truths – Consumer protection and good business sense 

The Global Financial Crisis has significantly curtailed consumer confidence in the financial services sector. In a bid to restore trust, the G20 is working with finance ministers and central bank governors to make consumer protection an integral part of legal, regulatory and supervisory frameworks in the industry.

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.

New emphasis
Regulation response
Key principles
Just good business

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