Trustworthy business standards are one of the most important forms of social capital. Trust is paramount to the efficient operation of financial markets. And financial markets are a key ingredient of a well-functioning economy. This trust includes confidence in the players involved—the people who run the companies, and those who watch them.
It also includes trust that the information required to make sound investment decisions is disclosed fully and accurately. Moreover, the disclosure must be fair—there must be confidence that insiders are not trading on information not available to everyone. Only when all these components of trust are in place can we have healthy, efficient financial markets that benefit everybody.