FSA steps away from product price caps but will probe 'value'

The FSA has stressed its preference for product intervention as an "essential" means of achieving consumer protection.

Product governance is central to the regulator's plans to achieve better consumer outcomes across the whole value chain, the FSA said today in a product intervention feedback statement, "This includes looking at product governance, how products are brought to the market and managed over their lifetime, and taking earlier action where we foresee the possibility of detriment," the paper states. The FSA ruled out price-capping all products. However, in some cases it said it might be appropriate to impose limits on excessive charges to solve competition problems. Such measures would be...