Our work to promote the development of a consumer-focused culture includes directing all banking, insurance and investment firms to review and restructure their incentive payments for sales staff in light of guidelines we issued to ensure that employees, individually and collectively, act in the best interests of their customers and provide products suitable to their needs.
We are currently examining additional measures to ensure that firms remuneration structures for intermediaries encourage responsible business conduct, fair treatment of consumers and to 5/9  BIS central bankers' speeches  avoid conflicts of interest. There has been progress by some firms towards this type of culture but there is a long way to go.