A new survey shows financial industry executives think that the new Dodd-Frank regulations will help restore investor trust. Reputations in the industry were harmed by the 2008 credit crisis as investors lost confidence that firms were acting in their best interests. The Madoff incident also significantly eroded investor trust.
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Most of the survey
respondents were communications executives, not chief executives. Many chief executives have voiced opposition to the new regulations and still hope some of the provisions of the Dodd-Frank Act will be repealed.
The very public departure of a Goldman Sachs representative focused the industry on the need to show clients that firms indeed put their interests first. It’s up to the chief executives to restore investor confidence and improve satisfaction.