If financial services want to be ethical here’s what they have to do
October 4th, 2010
I’ve just blogged a letter sent to the FT by some of the leaders of the UK’s financial services industry in which they say:
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If the only question is, “Is it legal and profitable?”, then all that matters is that what is done complies with the regulations in force and makes a profit for the seller and the institution they represent. At its most extreme this philosophy undermines any concern for the best interests of the customer, and subordinates these entirely to the pure self-interest of the seller in maximising profit as...