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2021 | OriginalPaper | Buchkapitel

2. Does Professionalism in Financial Services Have a Future?

verfasst von : Charles W. Munn

Erschienen in: Ethical Discourse in Finance

Verlag: Springer International Publishing

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Abstract

The purpose of this chapter is to examine how the concept of ‘professionalism’ in modern day financial services in the UK is understood and practised. It examines how computerisation, competition, remuneration strategies, Big Bang and misplaced regulation have all contributed to a reduction in professional standards. It goes on to examine how structural changes in the provision of financial services and the dash for profit growth have led to a reduction in ‘professional services’ and how they have been replaced by a sales culture. It further reflects on how these changes have altered the trust relationship between customers and providers. Finally it reflects on how professional bodies might assist in the restoration of professional standards and trust in the provision of financial services.

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Fußnoten
1
Chapter 4 (Brooks, 2018).
 
2
Let the buyer beware.
 
3
Quoted in Perman (2019, p. 248).
 
4
Stevens and Stevens (1992) cited in Brooks (2018, pp. 82–83).
 
5
Quoted in Shaxson (2011, p. 182).
 
6
‘ICAEW calls for early and urgent action on audit reform’. Press Release, 14 October 2019.
 
7
See, for example, Kate Raworth (2017).
 
8
Rachel Reeves (2019). ‘Two in five company results raise alarm bells at Financial Reporting Council’. The Times, 23 October.
 
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Metadaten
Titel
Does Professionalism in Financial Services Have a Future?
verfasst von
Charles W. Munn
Copyright-Jahr
2021
DOI
https://doi.org/10.1007/978-3-030-81596-7_2