Making Markets Work

Promoting fair and efficient markets and confident consumers

Consumers are increasingly expected to take responsibility for themselves by using financial markets to provide for the future or protect themselves against risk. But if we are to encourage greater take-up of financial products and avoid exacerbating financial exclusion and underprovision, then markets need to operate fairly and efficiently – and, importantly, markets need to be seen to be operating fairly and efficiently if consumers are to be confident that providers are acting in their interest. Moreover, the regulatory system has to enable financial inclusion and provision not act as another unnecessary barrier.

There are a number of strands to our work to promote fair and efficient markets that consumers have confidence in.

  • Working with the Market: we make a point of working with the industry to help it develop fair and transparent products and services that consumers value and have confidence in – what we call ‘co-production’. This work strand relates mainly to consumers who are viable for the market to serve
  • Effective legislation and regulation: we campaign for an effective and efficient legislative and regulatory regime (including self-regulation) that strikes a balance between protecting consumers and promoting efficient markets and financial inclusion; and
  • Innovation: working with the industry and other stakeholders to develop alternative ‘quasi-market’ solutions for consumers who are not commercially viable for mainstream providers.


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