Regulatory Alerts2013-03-25
Making Temporary Product Intervention Rules
The Financial Conduct Authority issued this policy statement to define the process for creating temporary product intervention rules (TPIRs) effective from 1 April 2013. The document establishes a Statement of Policy that empowers the regulator to implement targeted interventions across financial providers and distributors, while allowing for standard consultation during significant revisions. This framework guides regulated firms, industry associations, and consumer groups in adapting to the new intervention mechanisms and potential rule adjustments.
Why are we issuing this Policy Statement (PS)?
In this paper, we outline the process that the FCA will use to make temporary product intervention rules (TPIRs).
Who is this PS aimed at?
This paper will interest all product provider and distributor firms regulated by the FCA, and industry associations. It will also interest consumers and consumer groups.
Other regulators and regulatory bodies considering similar issues may also be interested in this paper, particularly in the EU where future directives might include provision for product interventions.
Policy Statement
FSA - PS13/3 Making temporary product intervention rules
What are the next steps?
From 1 April 2013 the FCA may consider making temporary product intervention rules, using the process set out in the Statement of Policy (SoP) in this PS.
The FCA may make changes to the SoP as a result of any issues that come to light from using the process. Where the FCA makes significant revisions to the SoP, it will consult on these in the normal way.
Want to find out more?
For more information:
look at the FCA Handbook .
: Link changed fixed broken link
: Link changed fixed broken link
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