The role of professional organizations in boosting trust in financial business

Abstract

In today's challenging business climate, a variety of constituencies in the financial services industry are looking to professional standard setting organizations to establish and promote Best Practices in the marketplace. Such organizations, working with financial services companies and regulators, can accomplish a great deal to promote consumer trust. In addition, there are encouraging indications that the value of professional organizations is being recognized and, therefore, woven into the future regulatory and marketplace infrastructure. © 2005 The International Association for the Study of Insurance Economics.