The FSA is to get more involved at an earlier stage of product design and stress testing, rather than just at the point of sale, to try and avoid further mis-selling scandals.
Dan Waters, director, conduct risk, and asset management sector leader at the FSA, says the regulator's work on structured products and other investment vehicles identified a “significant risk of profound mismatches between retail products produced through the investment value chain and the needs of consumers who end up owning them”. Speaking at the McKinsey Asset Management Conference, he emphasized the FSA’s commitment to getting involved earlier in the design stage of products rather than just at point of sale. Waters says: “We have learned the hard way that a focus primarily u...
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