New product intervention approach could result in firm TCF rules
The Financial Services Authority (FSA) has revealed its intention to create a single set of rules for product intervention which could involve making all TCF material statutory.
The regulator's feedback statement to its Product Intervention discussion paper, published on 25 January 2011, said: "Building on what is already in place, the existing framework of principles, systems and controls rules and TCF guidance should be updated to take account of our new approach.
"We believe that it is necessary for us to make changes to our regulatory approach to consider the entire product life cycle, including product governance and distribution standards. We are already
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