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Misselling consumer awareness study – Circumstances surrounding the occurence of misselling

Author

Listed:
  • Martysz Czesław Bartłomiej

    (Collegium of Management and Finance, SGH Warsaw School of Economics, Warsaw, Poland.)

  • Rakowski Jan Piotr

Abstract

Misselling is the sale of financial services that do not meet the needs of consumers or in the manner or the way they are sold, which is not appropriate to the nature of those services. The first aim of this article is to characterise the misselling phenomenon and present the most important circumstances surrounding its occurrence. The second aim is to examine the level of consumers’ awareness and knowledge of misselling and to show way to protect against misselling, among which the most important postulate is to increase the level of consumers’ financial education. The promotion of financial education could improve consumers’ sense of security, improve the degree of adjustment of financial services to consumer requirements, strengthen the awareness of the assistance that consumers can receive from public institutions and positively contribute to the activity of Poles on the financial market.

Suggested Citation

  • Martysz Czesław Bartłomiej & Rakowski Jan Piotr, 2021. "Misselling consumer awareness study – Circumstances surrounding the occurence of misselling," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 57(2), pages 121-137, June.
    • Handle: RePEc:vrs:ijomae:v:57:y:2021:i:2:p:121-137:n:6
    DOI: 10.2478/ijme-2021-0007
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    References listed on IDEAS

    as
    1. Antonio Marcacci, 2018. "Regulating Investor Protection under EU Law," Springer Books, Springer, number 978-3-319-90297-5, September.
    2. World Bank, 2012. "Good Practices for Financial Consumer Protection," World Bank Publications - Reports 26861, The World Bank Group.
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    More about this item

    Keywords

    consumer rights awareness; financial services; misselling; Poland; survey;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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