Financial services providers: Integrity systems, reputation and the triangle of virtue

Seumas Miller adds further insights on how self-interest can be mobilised to promote ethical conduct in financial markets. When a high professional reputation is much sought-after by members of an occupational group or organisation, and al low one to be avoided at all costs, there is an opportunity to put this desire to use in the service of promoting ethical standards. Miller argues that a deserved reputation can provide an important nexus between the self-interest of business firms and professional groups on the one hand, and appropriate ethical behaviour towards consumers, clients and the public more generally on the other. Reputation, self-interest, and compliance with ethical standards can be made to interlock in what Miller calls a 'virtuous triangle'