The new product intervention powers mean a seismic shift in how financial products are brought to the retail market. TCF principles and Responsibilities of Product Provider and Distributor rules will have the effect of formal regulatory rules.
Firms can expect greater challenge around product offerings and margins on profitable products and commercial interests will no longer come first.
Firms’ focus:
- Design products to serve customer needs
- Develop, distribute and market products aligned with those needs
- Manage risks over the product lifecycle.
We undertake an independent review of how firms on-board products across the retail banking spectrum (deposits, mortgages, insurance
and investments). Our team combines insight from industry product governance experts with close FSA dialogue to achieve the aims of
the regulator, the customer and your firm.
