Multi-Asset Review: 'PROD' yourself into action

Courtesy of the Financial Conduct Authority (FCA), the Product Intervention and Product Governance Sourcebook or ‘PROD' came into force alongside other MiFID II provisions on 3 January 2018. At a very high level, the rules aim to make sure advisers are offering their clients suitable solutions by requiring product manufacturers and distributors to identify suitable target markets. At first, it was little noticed and even less discussed but, over the course of 2018, the implications for both advisers and platforms gradually began to feature more frequently in the news and at conferences a...