Co-manufacturer – lead firm The FCA now allows, on an optional basis, a lead firm to be appointed where there is a co-manufacturing arrangement. The lead firm will be responsible for compliance with the manufacturer obligations in PROD 4.2. The lead firm cannot be an intermediary. This means they must be an insurer. This change is likely to be of relevance to a very small number of Paradigm firms Where these arrangements exist, firms should consider if they’d like to appoint the co-manufacturer insurer as the lead firm for compliance with specific rules in PROD. Whilst the FCA are making efforts to simplify rules, it reality, it is unlikely to mean any changes in the day to day governance of the advising on this type of business. If you have any queries, or need further assistance, please contact the Protection Team on 03300 536061, or Email [email protected] For general helpdesk queries, please contact us on protectionhelpdesk@paradigm. co.uk Mortgage Rule Review Feedback to DP25/2 and Roadmap Supporting our intermediaries through all regulatory changes that will impact upon your business Don’t trawl through hours of documentation. Click to watch our short, 15-minute briefing on this topic from senior individuals across our business and earn your CPD 14 SPRING PROTECT NEWSLETTER
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