FSA seeks power to cap prices and ban products

In a discussion paper published today, the FSA outlines how it has already started a significant shift towards a more interventionist approach, with tighter supervision of the governance of product development. But it also sets out a range of future interventions that could be introduced in areas where the potential for customer harm is greatest. These could include banning whole products or their sale to specific groups of customers. Consumer deposits, insurance policies, retail investment products, mortgages are the main focus of the planned overhaul. However, in a move which ...