Ethcial Issues in the Financial Services Industry

It is considered that general people tend to consider the field of financial services as more unethical as compared to other areas of business. This is considered as such mostly because of the fact that the industry is considered to be quite large.
Ethical issues are considered to have a huge importance in the industry of financial services because numerous people are considered to be consumers of such services. General people tend to consider this field as more unethical as compared to other areas of business. This is mostly because of the fact that the industry is considered to be quite large. It comprises mortgage lenders, pension funds, investment banks, mutual fund organizations, insurance organizations, securities firms, and banks.
The industry is considered to make a lot of headlines which tout for its ethical lapses due to its vast size. Intermediaries that operate in the field of financial services must follow standards of the industry, rules of law, and act in an ethical manner.
The organizations operating in the financial services industry conduct numerous meetings with regard to the marketing of financial services, investment analysis, technology training, and new product training but there is very less importance placed with regard to ethical training. The thinking of organizations must be changed in this regard such that ethical training forms part of conferences in financial service organizations and should have a significant number of attendances.
The financial services industry is considered to provide essential services which can be considered as fundamental to modern society and economy. It provides services such as safeguarding the money of the general public and providing them with domestic lending services. In this regard, it can be said that considering the vital role that financial service organizations play, it is logical to&nbsp.subject the industry to higher ethical standards as compared to that of other commercial sectors.