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PROD 6.5 Distribution of default options

PROD 6.5.1R

1A firm must not distribute a default option unless it is compatible with the needs, characteristics and objectives of the retail clients to whom the firm distributes the default option.

PROD 6.5.2R

1When carrying out the compatibility assessment in PROD 6.5.1R, a firm must also take into account:

  1. (1)

    the manufacturer’s compliance with the requirements in PROD 6.4; and

  2. (2)

    the financial strength of the manufacturer.

PROD 6.5.3R

1A firm must review the distribution arrangements for the default options it distributes at least every 3 years.