Blog: Thou shalt treat thy customer fairly

Is financial services the only industry where the principle of caveat emptor doesn’t apply? I use an example when introducing new recruits to the sixth principle of our regulator – “Thou shalt treat thy customer fairly”, which focuses on how customer satisfaction is not to be relied upon as a guide to fair treatment – which involves a chap being charged less by a garage than quoted. We know it would never happen in real life, but what this illustrates is that caveat emptor can apply outside the realm of financial services. What we also don’t enjoy in financial services is the protecti...