The emergence of product governance regulation is one of the most important developments in 21^st century regulation in both the UK and globally. In its Consultation Paper this year, on a Consumer Duty, the Financial Conduct Authority proposed 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 have to follow the RPPD regulatory guide. They now need to prepare to raise their game to PROD-level to respond to 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, product testing, managing internal and external distribution, reviewing and spotting and reacting to events that pose risks to their products.

The objectives of the course are to make participants comfortable with RPPD and PROD and their application to both manufacturers and distributors of products and enable attendees to understand the structures and work required to maintain quality offerings and distribution.

The value to participants is a sound knowledge of both 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 understand the applicable rules.