What do we Know about Sales Staff Behavior? A Technical Guide for Mystery Shopping in Retail Finance
The shift towards suitability frameworks for consumer protection in India is a bold and important enhancement of existing financial consumer protection efforts.
“Suitability” and the Law: Moving from scatter gun to straight shooter?
The previous blog post in this series had presented some insights from our review of case law relating to financial products and services.
Top 5 Game changers for the Indian Financial System in 2014
The RBI published the final Charter of Customer Rights for banking customers in December 2014.
Suitability becomes a Customer Right
The RBI has published on its website the final Charter of Customer Rights for banking customers.
Towards a Suitability-based Customer Protection Regime in India
The current regulatory approach to customer protection in India can be divided into two complementary ex-ante approaches- mandated information disclosure, and financial literacy and education.
The Suitability Approach to Client Protection: Comments on the Mor Committee Report
The Mor Committee Report offers a radical take on client protection, built around the concept of a legal right to suitability.
Suitability means going from buyer beware to seller be sure
In India, however, it has been applied to the sale of derivatives by banks to corporate customers.
FSLRC moots shift in onus of consumer protection from consumer to provider
Why does consumer protection assume so much more significance in financial services, more so than perhaps for other services? Financial services don’t have fixed characteristics.
Regulator Supervision of the Suitability process: An example from UK
We have presented Suitability as the paradigm of choice for India’s financial system and have put forward the idea of Suitability as a board-approved process that each financial services provider develops and adheres to across all functions of the firm.
A Paradigm for Suitability: Part III
The previous post covered the process of “Suitability” in financial services. Here, we cover aspects of the legal and regulatory structure that will aid in establishing an effective Suitability regime in India.
