Product Design and Distribution : Emerging Regulatory Approaches for Retail Banking Products
This note discusses emerging international approaches for regulating design and distribution of retail banking products. Such products include deposit, credit, and payment products, being the products that new financial consumers typically acquire...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/993431567620025068/Product-Design-and-Distribution-Emerging-Regulatory-Approaches-for-Retail-Banking-Products-Discussion-Note http://hdl.handle.net/10986/32344 |
| Summary: | This note discusses emerging
international approaches for regulating design and
distribution of retail banking products. Such products
include deposit, credit, and payment products, being the
products that new financial consumers typically acquire
first. Policy makers are finding that financial consumer
protection measures implemented to date, such as disclosure
requirements, while still important, are insufficient to
protect consumers against all key risks. Anticipating new or
changing risks to consumers has also become more difficult
for regulators given rapid financial sector innovation.
Regulation of providers’ product design and distribution
processes aims to ensure that products distributed in a
market are designed to meet the needs of consumers in that
market. This discussion note analyses relevant frameworks in
a number of jurisdictions and highlights emerging common
approaches, including in relation to requirements for
governance arrangements, target market assessments,
distribution arrangements and product reviews. |
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