5328709
Descripción
Fichas por Jevgenija Zukova, actualizado hace más de 1 año
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Creado por Jevgenija Zukova
hace más de 8 años
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| Pregunta | Respuesta |
| What are our everyday interactions with financial services? | > Wages and salaries > Shopping and bills > Mortgage > Insurance > Planning for retirement (pensions) > Saving |
| What are the features of information and advice? | > Accurate > Up to date > Transparent > Timely > Sufficient but not too complex |
| Why would people need to be able to access information and expert advice before deciding which product suits them best? | Because people don't know about their personal finances. |
| What are factors that influence financial choices? | > The original want or aspiration > Feasibility of access to a financial product to fulfil the want or aspiration > Information sources > Personality > Price and product features >Reputation of the provider |
| What did providers ethically wrong in the financial crisis time? | They maximized sales to achieve high targets but didn't think about the customers. |
| How is designed Financial legalisation and regulation? | It's designed to 'make sure firms are giving consumers a fair deal'. |
| What are statutory objectives of FCA? | Financial Conduct Authority is protecting consumers, to enhance the integrity of the financial system and to promote effective competition. |
| What are statutory obligations of PRA? | Prudential Regulation Authority promotes the safety and soundness of firms and protects insurance policyholders. |
| How a provider might be acting legally and satisfying the regulator but still be deemed unethical? | > Unfair behaviour to a group of customers > Implications on financial transactions that are beyond the interests of bank's customers as they affect the interests of other stakeholders. |
| What are outcomes of treating customers fairly? | > Better culture of central > Products are designed to meet the needs of identified consumer groups > Consumers are provided with clear information at any stage > Advice is suitable > Consumers don't face any unreasonable after-sale barriers. |
| Why executive pay is an issue? | Top directors of banks receive huge salaries and they grow every year |
| Why would providers need to consider effects of their decisions on stakeholder groups? | Because there is much greater responsibility on providers and so they need to put pressure on policies to go further than conventional business goal of making profit. |
| To what refers CSR? | Corporate social responsibility refers to any action or project in which a company goes beyond the interests of its shareholders and top management in order to benefit other stakeholder groups. |
| What is window-dressing? | It's part of company's overall marketing campaign and aims to create a good image in order to cover up its other less political policies. |
| What is responsible investment? | It's an investment that aims to meet the needs of people who care about how their money is used. |
| What is Ethical Investment Association? | It's an organization that brings together and gives support to financial advisers who want to promote green and ethical investment. |
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