The turmoil faced by financial sector organizations worldwide has shaken the consumers' confidence, but this crisis also gave regulatory agencies the opportunity to redefine their monitoring approach and their expectations towards the protection of consumers' interests. It also highlighted the responsibilities of consumers, who should become better informed before they purchase financial products and services. This article will first summarize the evolution of the governance of financial sector's business practices, both on an international and a national basis, by presenting some initiatives of the Autorite des marches financiers in Quebec. Next, we will discuss the main challenges financial institutions will face when they decide to implement the principle of fair treatment of consumers and integrate it into their organizational culture. We will also see that financial institutions may have to reconsider a number of their processes and ways of doing business to promote increased communication, transparency and efficiency in their relationships with their customers and a greater organizational consistency. Finally, we will try to draw some conclusions and suggest some avenues to help financial institutions better understand the principle of fair treatment of consumers and to consider it as an opportunity to be perceived as businesses which have their customers' best interests at heart.
