The Consumer Affairs Working Group provides a forum for experts from member associations to exchange views and information on consumer affairs issues.
IBFed responds to the OECD on consumer protection -31/08/11
IBFed has responded to draft High-level Principles on Financial Consumer Protection, published by the OECD.
We noted the importance of close consultation in the drafting of such principles, and submitted detailed comments on the respective principles set out in the OECD documents. In addition, we suggested that a consumer financial protection regulatory framework should be predicated on the enforceable expectation that consumers are responsible for their choices and uses of financial products and services.
The IBFed letter is available here.