Advisers aware of but not complying with PROD - the lang cat

Two-thirds cannot evidence compliance

Tom Ellis
clock • 2 min read

Financial advisers are more aware of PROD regulations than they were earlier this year but almost two-thirds say they are unable to evidence their compliance with the rules, according to research from the lang cat.

The consultancy found four-fifths (80%) of the advisers it surveyed were aware of PROD yet some 62% cannot evidence suitability of products and services by client segment in compliance with the regulations introduced in January. This compares with fewer than three-fifths (58%) of advisers saying they were aware of PROD earlier in the year. 'PROD' - the short-hand term for product intervention and product governance - was introduced alongside the second iteration of the Markets in Financial Instruments Directive (MiFID II) in January by the Financial Conduct Authority (FCA). The firm s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA complaints: Pensions and investment gripes on the rise

FCA complaints: Pensions and investment gripes on the rise

Total number of financial services complaints hits 1.85 million

Jenna Brown
clock 23 October 2025 • 1 min read
Updated: Failed financial advice firms tracker

Updated: Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 21 October 2025 • 1 min read
Regulatory pressure continues to 'weigh' on advisers

Regulatory pressure continues to 'weigh' on advisers

Consumer Duty and FCA reporting cited as biggest regulatory demands

Jenna Brown
clock 20 October 2025 • 1 min read