'PROD' - What is the regulation dividing the adviser platform market?

First in a new series

Tom Ellis
clock • 3 min read

PA has once again teamed up with the lang cat for an in-depth look into a lesser-known part of the platform market. This time, Tom Ellis's focus is the FCA's 'PROD' rules and, here, he looks at why they are dividing the platform market

To gather the necessary information for this series, Professional Adviser, with the help of platform consultancy the lang cat, sent a detailed questionnaire centred around PROD to the 17 biggest adviser platforms in order to ascertain how they are interpreting and reacting to these still largely unknown rules. In the end, only three of the platforms chose not to complete and return our survey. 'PROD' - the short-hand term for product intervention and product governance - was introduced alongside the second iteration of the Markets in Financial Instruments Directive (MiFID II) in January ...

To continue reading this article...

Join Professional Adviser

  • 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 Wrap/platforms

Tough third quarter for platform industry, data shows

Tough third quarter for platform industry, data shows

Economic instability is hurting investor confidence, experts say

Julia Bahr
clock 10 November 2022 • 3 min read
Alex Cowan-Sanluis: The five-stage hierarchy of platform services

Exploring the five-stage hierarchy of platform services

Platform market change sees more consistent tech-driven customer propositions

Alex Cowan-Sanluis
clock 12 October 2022 • 4 min read
Advisers scale back platform usage, reveals research

Advisers scale back platform usage, reveals research

‘Platforms may be in for a bumpy ride over the next few months’

Ayesha Venkataraman
clock 11 October 2022 • 2 min read