Product intervention – what should the future hold?

The Herbert Smith financial services team recently hosted a roundtable discussion with high profile members of the financial services industry and a key policymaker at the FSA, to discuss product intervention and what shape the future landscape should take.       

We have now published a paper which explores some of the key matters and issues debated:

• How outcomes for product regulation should be defined
• What firms’ obligations should be and how they can be made clear
• What balance should be struck between regulating specific product features and/or regulating the governance and design process
• What case-by-case intervention should look like and when the powers should be exercised
• What the interaction should be with European requirements and the role of the European Supervisory Authorities
• Some mis-selling predictions
• Steps firms should be taking from now

The paper will be of interest to those involved in the design, distribution andor monitoring of financial products.