FSA to increase involvement in product design to avoid mis-selling

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...