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

Abuse victims must not be 'blocked' from redress, group urges

Abuse victims must not be 'blocked' from redress, group urges

In response to FCA and FOS consultation paper

Jen Frost
clock 12 May 2026 • 3 min read
FCA receives 210 whistleblower complaints over Consumer Duty in Q1

FCA receives 210 whistleblower complaints over Consumer Duty in Q1

Closed 265 whistleblowing cases between January and March

Michael Nelson
clock 11 May 2026 • 2 min read
Ex-investment adviser sentenced to additional prison time

Ex-investment adviser sentenced to additional prison time

Richard Faithfull failed to pay back £529,961

Sophia Panayi
clock 11 May 2026 • 2 min read