Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

PROD 6.2 Manufacture of pathway investments

PROD 6.2.1R

12A manufacturer must review its pathway investments at least annually to ensure that the pathway investments:

  1. (1)

    remain consistent with the needs, characteristics and objectives of their identified target market, taking into account the investment pathway options in COBS 19.10.17R(1); and

  2. (2)

    are being distributed to their target market.

PROD 6.2.2G

A firm to which the record-keeping rules in SYSC 3 (Systems and controls) or SYSC 9 (Record-keeping) apply should maintain, in relation to its manufacture of pathway investments, a record of the process undertaken to approve each pathway investment, and of the review conducted for each pathway investment to comply with PROD 6.2.1R.