The Herbert Smith financial services team recently hosted a roundtable discussion with high profile members of the financial services industry and a key policymaker at the FSA, to discuss product intervention and what shape the future landscape should take.
We have now published a paper which explores some of the key matters and issues debated:
- How outcomes for product regulation should be defined
- What firms’ obligations should be and how they can be made clear
- What balance should be struck between regulating specific product features and/or regulating the governance and design process
- What case-by-case intervention should look like and when the powers should be exercised
- What the interaction should be with European requirements and the role of the European Supervisory Authorities
- Some mis-selling predictions
- Steps firms should be taking from now
The paper will be of interest to those involved in the design, distribution andor monitoring of financial products.
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