Context
In its most recent Regulatory Round-Up e-mail, the FCA has reminded firms about its product value and coronavirus guidance.
Key points to note
- The FCA published the findings of its review into how firms responded to its requirements and expectations of their approach to product governance and value, and its related guidance published in response to Covid-19.
- All firms should consider the FCA’s findings and any actions they need to take.
- The FCA believes that many firms still have work to do, and that this is a final opportunity to identify and address gaps or shortcomings in their approach to meeting the new product governance requirements set out in PS21/5 before their implementation on 1 October 2021.
- After this date, firms who cannot evidence compliance risk regulatory action.
Next actions
None – for information and awareness.