March 2014
Beginner
440 pages
12h 42m
English
Content preview from Financial Times Guide to Banking, The
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26
Regulation
Bank customers place a great deal of trust in the employees of the various departments of banks when they hand over their money or follow their advice. Naturally, in most cases clients do not understand in any great detail where their money goes. They accept a promise that it will be returned to them, or at least that, if it is put at risk in order to generate a return, the managers will be careful, thoughtful and skilled in applying their savings to investment.
The lack of customer control and lack of customer information once the money is handed over leaves depositors, etc. exposed to a number of human failings. There is the danger of incompetence that either through ignorance or laziness bankers waste their clients’ money, ...
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