THE G20 Finance Ministers' meet here agreed on new principles on financial
consumer protection developed by the OECD.
The principles form part of a broader initiative by G20 leaders to strengthen
trust and confidence in the financial sector, which is widely recognised to
have fallen since the economic crisis.
“Without consumer trust and confidence we could jeopardise the basis
for global economic recovery and growth,” said OECD Secretary-General
Angel Gurría at a conference in Paris. The three pillars – protection, access,
and education – should
be integrated in the broader regulatory framework, alongside prudential regulation,
governance and competition policies, he added.
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