News, updates and expert analysis.

Approval of open products With respect to any new product manufactured on or after 31 July 2023, or any existing product, a product manufacturer must

An introduction to product testing Product manufacturers are expected to base their work on REAL consumer needs, characteristics (including those which characteristics of vulnerability) and

Product manufacturers must ensure that their products or services (whether new or existing) are designed to meet the IDENTIFIED needs, characteristics and objectives of the

What is “value”? “Value” is the relationship between the amount paid by a retail customer for a product and the benefits they can reasonably expect

General The FCA’s Financial Lives 2020 survey showed that in February 2020 46% of UK adults (24.1 million people) had characteristics of vulnerability. By October

What is a “target market”? A “target market” is a group or groups of customers sharing common features whose characteristics, needs and objectives a product

Under the “products and services outcome”, products and services must meet the needs, characteristics (including characteristics of vulnerability[1]) and objectives of an identified target group