OECD Business and Finance Outlook 2019
Strengthening Trust in Business
The OECD Business and Finance Outlook is an annual publication that presents unique data and analysis on the trends, both positive and negative, that are shaping tomorrow’s world of business, finance and investment. Using analysis from a wide range of perspectives, this year’s edition considers the importance of public trust in business and finance, offering a conceptual approach to understanding facets of trust in finance, investment and business with respect to economic value, fairness and integrity of conduct, as well as alignment with societal values. The Outlook provides an assessment of factors that contributed to a deterioration of trust during the Global Financial Crisis; reviews recent developments that could contribute to a renewed erosion of trust; and, offers policy considerations to help strengthen public trust in business and finance.
Trust and financial institutions
Population ageing, low returns on retirement savings, low growth, less stable employment careers, and insufficient pension coverage among some groups of workers: These trends have eroded the belief that pension systems are managed with workers’ best interests in mind and that they will deliver on their promises, once workers reach retirement age. This chapter considers three policy objectives to win back trust in financial institutions: promoting prudent pension management and supporting pension funds’ fiduciary duties; enhancing financial consumer protection; and addressing environmental and social risks.
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