UK FCA Consumer Duty (Principle 12 and PRIN 2A)
PRIN 2A.3: the products and services outcome (manufacturer approval and review, distributor arrangements) – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

UK FCA Consumer Duty (Principle 12 and PRIN 2A) 2a3-manufacturer-review-test: Manufacturers regularly review products against events affecting the target market, test them including scenario analysis, and act on adverse findings

What does 2a3-manufacturer-review-test require?

A manufacturer must review its products regularly, taking account of anything that could materially change the risk to the target market, and assess at least whether the product still fits that market's needs, characteristics and objectives and whether the distribution strategy still suits it. Products must be tested appropriately, with scenario analysis where relevant, and where testing shows the product falls short of the identified needs the manufacturer must hold it back, adapt it, or take other appropriate action. Where circumstances connected with the product could hurt retail customers the manufacturer must act to mitigate and prevent further harm, inform distributors and, where relevant, customers.

Maintained by Gerard Blokdyk

Other controls in PRIN 2A.3: the products and services outcome (manufacturer approval and review, distributor arrangements) – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

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The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.