ECCB Communications Workshop for ECCU Media Practitioners

Eastern Caribbean Central Bank

FREQUENTLY USED TERMS

The term market conduct is frequently used interchangeably with financial consumer protection, but it can also cover other areas of regulation and supervision. Market conduct connotes a broader focus regarding ensuring and promoting the proper functioning of financial markets to achieve fair and beneficial consumer outcomes.

Financial Consumer Protection refers to laws, regulations and other measures generally designed to ensure fair and responsible treatment of financial consumers in their purchase and use of financial products and services and their dealings with financial services providers.

Market Conduct means how Licensed Financial Institutions uphold the interests of financial consumers so that they are treated fairly, offered suitably designed products, provided with the necessary disclosures to make informed

decisions, and have an avenue for addressing complaints.

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Transforming the ECCU Through Innovation and Collective Action