FCA may ban firms from selling individual products

In a document outlining its initial thinking on the scope of the Financial Conduct Authority (FCA), the FSA said while it currently allows firms to continue to market and sell products alongside programmes to remedy poor practices, the FCA may not. "The FCA will intervene where the product may be well known and of utility to consumers but the sales and distribution process of a firm does not meet regulatory standards and consumer detriment is occurring," today's paper reads. It said, when the firm is a major supplier of a product which is commonly sold to consumers, the consequences o...