Nearly three-quarters of financial services practitioners support giving the regulator the power to ban retail products, research suggests.
A survey of 530 members of the Chartered Institute for Securities & Investment (CISI) found 72% of respondents believed the regulator should be able to remove certain retail products from the market, with 27% strongly agreeing with the move.
The CISI found there were regional variations in responses but all regions responded with well over 60% in agreement.
Its results suggest a show of support for the government's break from its previously light-touch approach to product regulation.
In February the Treasury announced the Financial Conduct Authority, one of the regulatory bodies replacing the FSA, will be given the powers to ban retail products or limit their distribution for up to 12 months.
At present, the FSA does not have explicit powers to ban products.
Read editorial director Lawrence Gosling's take on banning products.
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