UK regulator to get 'intensive and intrusive' on product governance processes

UK FSA to get ‘intensive and intrusive’ on products


The UK Financial Services Authority (FSA) is moving to enhance its supervision of banks’ product governance but has stopped short, for now, of requiring the pre-approval of all new investment products.

The FSA discussion paper on product intervention (DP11/1) states the regulator sees “product intervention as an essential part of effective regulation”. Dealing with problematic products before they reach the point of sale, it says, will cut consumer detriment as well as regulatory and banks’

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