While client protection is a foundation of responsible finance, implementing it requires wrestling with a fundamental question: when does protection become a paternalistic limitation on client choice? Among responsible finance adherents, there is universal agreement that clients should be provided with clear, simple information in order to make financial decisions. But often this is seen as insufficient, and institutions and regulations go further, limiting or prohibiting certain practices because they are deemed irresponsible -- thus also limiting client choices. The EMW 2019 Closing Plenary used a free debate format to explore the challenge of balancing between these two objectives -- client choice and client protection.
