15. Let me highlight that unfair market conduct does not only mean being on the wrong side of the law or the regulations. What banks must consider is whether the transactions that they undertake or approve of are beneficial for the society as a whole.
The delayering of transactions on behalf of customers so as to facilitate tax management (or avoidance) is an example where societal interests are subverted to suit customer requirements. Likewise, how ethical is it to facilitate customers’ transactions by allowing them to have several relationship/customer IDs within the same branch/ bank? 16.