Serve customers, don't ram products down throats: Everett

He spoke to the Institute of Directors about the importance of creating an ethical culture in businesses, and how to regulate it.

He said, while culture was a big concern for any financial services regulator, the damage caused by rotten corporate culture was not unique to the sector.

Everett said, while customers, regulators and taxpayers were invested in keeping business culture on track, shareholders often did not share the concern to such an extent. Share prices recovered quickly when problems were uncovered.

“One of the greatest challenges for directors of listed companies today is how to balance the interests of shareholders - who may appear to care little for customers, employees or society - with those of the broader stakeholders.”