Access Millions of academic & study documents

Img 1157

Content type
User Generated
School
jo richardson community school
Showing Page:
1/1

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
a Top directors in banks receive huge salaries + performance related bonuses which can run into millions. Over the last decade executive pay has increased out of all proportion to the rate of inflation and, to the salary increases paid to bank employees lower down the scale The FCA includes, as part of its principles that all providers must follow, a requirement to TCF. Providers are expected to put the well-being of customers at the heart of their approach to business. There are 6 TCF outcomes: Fair treatment Banks justify these payments by pointing out the large profits that are made under the management of the top executives, the high level of expertise needed to do their jobs and the scarcity of this expertise, and the great responsibility placed upon them. They also argue that senior managers need to be highly paid to motivate them to stay in the UK rather moving to another financial centre where they can be paid even more Products are designed to meet the needs of identified consumer groups and targeted accordingly Consumers are provided with clear info before, during and after sale Advice is suitable and takes account of consumers' circumstances However, the high-level of this remuneration has received -ve publicity. People who're unemployed or who saw the real value of their income dwindle during the recession feel resentful when they see a privileged few being rewarded extremely generously, especially when banks that some of them lead have had to be bailed out with taxpayers money 8.3.3-executive remuneration Consumers are provided with products + services that perform as firms have led them to expect Consumers don't face unreasonable after sale barriers to change product, switch provider, 8.3 - ETHICS IN THE FINANCIAL SECTOR Regulators have begun to address this issue and the EU now caps banks bonuses at one years calary ricing to 2 voare now if there is evnlicit ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Studypool
4.7
Indeed
4.5
Sitejabber
4.4

Similar Documents