The emergence of product governance regulation is one of the most important developments in 21st century regulation in both the UK and globally. In its two consultation papers this year on a Consumer Duty, the Financial Conduct Authority (FCA) essentially proposed a series of obligations which basically amount to the extension of the detailed PROD rules for investment and insurance governance to all regulated firms. Providers and distributors of mortgages, deposits, consumer credit and bank accounts currently must only follow the RPPD regulatory guide and the principles to which it refers. They now need to raise their game to Consumer Duty-level to prepare for the FCA's plans.

UK Finance members need to build and maintain the structures required to make product governance work and carry out the key activities of identifying target markets, ensuring that their products provide value for money, product testing, managing internal and external distribution, reviewing and spotting and reacting to events that pose risks to their products.

The objective of the course is to make participants comfortable with the journey from RPPD to PROD, as well as the proposed Consumer Duty and its application to both manufacturers and distributors of products, enabling attendees to understand the structures and work required to maintain quality offerings and distribution. 

The value to participants is a sound knowledge of both the proposed Consumer Duty, PROD and RPPD and their current and likely future application to product governance for both manufacturers and distributors in their areas.  

The training approach will be interactive with the use of case studies and examples and will be geared towards the sharing of best practice between the participants.

Learning outcomes:

Delegates need to attend to understand the structures, approaches and tasks required to achieve reasonably safe product governance, understand what the FCA is doing in this space, know the basics of how to develop and maintain safely FCA-regulated products and distribute them and understand the rules applicable to these activities.

As we are currently working to upgrade our systems we are temporarily unable to accept card payments. If you would like to book any of our Training courses with a card, please contact training@ukfinance.org.uk and an alternative payment facility will be arranged.

Area of expertise:
Adam Samuel

Adam Samuel

Lawyer, Arbitrator and Financial Services Compliance Expert

Adam Samuel has been trying to keep the financial services industry out-of-trouble since 1996. In the early 2000s, he extricated a firm from the grips...

Adam Samuel has been trying to keep the financial services industry out-of-trouble since 1996. In the early 2000s, he extricated a firm from the grips of the FSA after it had accused its client of breaking the financial promotions rules and arranging investments through its website. In February 2012, Adam did one of the first digital media compliance lectures in the UK. Adam fixes companies? problems, trains, writes and teaches students about financial promotions. He authored the only book on UK financial services complaints (2nd ed out in 2017). He holds the exam qualifications not only for a compliance person (CISI Compliance Diploma) and a lawyer but also has AFPC, MAQ and Cert ER qualifications so that he can comment on the work of financial and mortgage advisers from a position of reasonable strengths. To find out more about Adam,  see adamsamuel.com.

Read more
  • Compliance 
  • Risk management teams
  • Product governance teams
  • Board directors

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