ABSTRACT
Financial services industry could well be described by the Moral Market rather than Moral Manager Model. Although many actors within the industry are big corporations, it is doubtful whether they could be considered paternalistic in terms of internal employee–employer relationships. Digitalization and technical possibilities make access to the market more direct for everyone thus fulfilling the Moral Market Model, therefore relationships should be defined through precise contracts. In the Moral Market Model what is seen as oppressive is a regulator. This view resonates with the financial professionals’ views on the centrality of the regulatory doctrine. Morality is a social consensus on what is right and wrong, conformance to which includes a person in the group. It is embedded in the discourse. A moral discourse then seems limited in financial businesses, so while a community of professionals centered on commercial values of professionalism obviously exists and shares common values, those are mostly of a commercial nature.
