Why FCA’s power to ban products is posturing

Author: | Published: 22 Feb 2011

The proposal for the incoming Financial Conduct Authority (FCA) to have the power to ban financial products is mere posturing, according to regulatory lawyers.

A consultation paper released by the UK Treasury on February 17 outlining the proposed regulatory framework for financial institutions in the UK also contains sections describing powers to ban financial products.

These powers would be divested to the newly formed FCA, which is...