'PROD': Why the FCA's sharpened teeth can't be ignored in platform selection

Although PROD and its rules may be some of the lesser known regulations brought in alongside the second iteration of the Markets in Financial Instruments Directive (MiFID II) in January, it does not make its requirements any less significant than any other rules. Worryingly, as mentioned in last week's series opener, research by the lang cat found fewer than two-thirds (58%) of advisers say they are aware of PROD - the short-hand term for product intervention and product governance. Only one-quarter (27%) of advisers believe it applies to platform selection, half (53%) reckon it does so ...