Financial Services Industry

Ethics in the financial services industry refers to ethics in banking, securities, and insurance. This broad field covers an array of somewhat dissimilar products and services connected only by their link to the financial interests of customers. In spite of heavy industry regulation, ethical challenges persist. The reliance of customers on the responsibility of members of this industry to care for their financial well-being leaves customers feeling particularly vulnerable. Furthermore, the complexity of many available products and/or services places the industry under additional scrutiny.

Particularly in the wake of the recent financial crisis of 2008–2011, the responsibilities of financial professionals are coming under increasing scrutiny. It is important to keep in mind, however, that bankers are not the only professionals in the financial services area. The ...