Two former fund supermarkets with opposing PROD interpretations

‘Not explicitly covered’

Tom Ellis
clock
"They share a similar heritage as ‘former' fund supermarkets and that heritage does have a fading legacy today in terms of the fund ranges available and certain elements of the make-up of the books" - the lang cat's Terry Huddart
Image:

"They share a similar heritage as ‘former' fund supermarkets and that heritage does have a fading legacy today in terms of the fund ranges available and certain elements of the make-up of the books" - the lang cat's Terry Huddart

Although PROD has now been in force for almost a year, advisers and providers are using different tactics to comply. Here, Tom Ellis and the lang cat's Terry Huddart consider the contrasting examples of two platform giants

'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 Regulation

Chris Davies: Consumer Duty unpicked - what advisers need to do next

Chris Davies: Consumer Duty unpicked - what advisers need to do next

'All-encompassing regulatory directive'

Chris Davies
clock 11 August 2022 • 7 min read
Platform assets continue to fall despite 'resilient' adviser flows

Platform assets continue to fall despite 'resilient' adviser flows

Predicts tough second half

Jenna Brown
clock 11 August 2022 • 3 min read
Doug Brown: " They have a management team that has been very successful in M&A."

Aviva UK boss: Expect more consolidation from Succession

Half year results

Jenna Brown
clock 10 August 2022 • 2 min read