PROD 2.6 General considerations for product intervention rules

PROD 2.6.1G

1Together with the considerations in PROD 2.5, when making temporary or permanent product intervention rules, the FCA will have regard to the regulatory principles set out in section 3B of the Act, (see PROD 2.9).

PROD 2.6.2G

The FCA will also take into account general considerations that include, but are not limited to, whether the proposed rules are:

  1. (1)

    an appropriate and effective means of addressing actual or potential consumer detriment associated with a particular product or group of products;

  2. (2)

    a proportionate and deliverable means of addressing actual or potential detriment;

  3. (3)

    compatible with the FCA’s duty to promote effective competition in the interests of consumers (section 1B(4) of the Act);

  4. (4)

    supported by sufficient and appropriate evidence;

  5. (5)

    transparent in their aim and operation;

  6. (6)

    likely to be beneficial for clients when taken as a whole; and

  7. (7)

    compatible (where relevant) with other applicable law, for example EU law.

PROD 2.6.3G

In accordance with the Equality Act 2010, the FCA will have due regard to the need to:

  1. (1)

    eliminate discrimination, harassment, victimisation and any other conduct that is prohibited by or under the Equality Act 2010;

  2. (2)

    advance equality of opportunity between persons who share a relevant protected characteristic and persons who do not share it; and

  3. (3)

    foster good relations between persons who share a relevant protected characteristic and persons who do not share it;

when making temporary or permanent product intervention rules.