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Mark Loosmore: "Advisers need to take notice of PROD. It is no longer guidance - it is rules based now.”
Just one-in-20 (5%) advisers are aware of their obligations under the FCA's 'PROD' product governance rules, which were introduced alongside MiFID II in January, research by IRESS has suggested.
The study, undertaken by consultancy the lang cat on behalf of the technology solutions business, also revealed more than half of the 64 advisers polled were still unaware of PROD - the Financial Conduct...
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