A Proposed Ethical Framework for Investment Banking

John N. Reynolds and Edmund Newell

Chapter 9 in Ethics in Investment Banking, 2011, pp 144-153 from Palgrave Macmillan

Abstract: Abstract A temptation in business generally is to take a broadly utilitarian approach to ethics: to make a judgement about likely outcomes to assess whether a decision is right or wrong. The financial crisis exposed the risk of such a strategy. Assessing the likely consequences of making a decision can be problematic in many situations, and in the case of financial markets it can be especially difficult. The financial crisis was a call for an appraisal of the moral underpinning of the financial system, and the purpose of this book has been to analyse the day-to-day operations of investment banking from a moral perspective, with the objective of providing clear guidance about how ethics can and should be applied to this important economic activity.

Date: 2011
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DOI: 10.1057/9780230348851_9

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