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Event background
The factors that determine consumers' trust in markets have been significantly affected by issues such as the economic downturn, recent high-profile business failures, and new technologies that are altering the relationship between consumers and businesses. Failures of consumer trust can have direct consequences for businesses, markets, and the economy as a whole. Business, government and consumers themselves therefore all have a significant stake in ensuring that
consumer trust in markets is strong.
The OFT's wide range of responsibilities means that we deal with consumers in many different ways, and must continually strive to better understand the relationships between consumers and markets. The Trust in Markets event, held on 9 September 2009, formed part of this work by drawing together advanced thinking and insights on these issues from a range of different perspectives, both to inform our own work and to help develop a common understanding of what can be done to maintain trust.
A panel of six eminent speakers were invited to set out their views on issues around trust and then to discuss those views with a select audience of senior representatives and experts from business, government, regulators, consumer bodies and academia. The discussion was focused around three main areas - trust in the market system as a whole, the relationship between trust and the law, and the dynamics of trust in individual markets.
Contact details for feedback questions:
If you have any comments, feedback or questions regarding the Trust in Markets event, please contact Mark Dungworth (mark.dungworth@oft.gsi.gov.uk or 020 7211 8241).
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