Four key objections to the FCA's power to ban products

OBJECTION!

clock •

The incoming Financial Conduct Authority (FCA) has set out the instances in which it will seek to use new powers to temporarily ban financial products it believes may prove harmful to consumers.

A ban would not require consultation, though the new regulator said it may communicate with affected parties ahead of any ban and it pointed out that any prohibition would not last longer than 12 months. But, as expected, not all stakeholders agreed with the FCA's proposals. Here, we outline four key objections (and why the FSA rejected them)...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read
FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read