FSA has published a Discussion Paper on the future role of the Consumer Protection and Markets Authority (CPMA) in meeting its consumer protection objectives, with particular reference to product intervention. Lord Turner said the key question is how far along the current spectrum of earlier and more intense interventions the regulator should move. The paper explains the traditional regulatory approach of concentrating on fair sales processes and proper product disclosures. It has already become clear to FSA that this approach does not always work, and it has already committed to some more interventionist regulatory initiatives. It is looking more closely at how firms design products and their ongoing governance. The DP covers most retail products – deposits, insurance, investment products and mortgages and FSA asks whether its principles should apply also to governance of platforms and discretionary management or other related services. It asks for views particularly on whether rules should cover firms' conduct when they design and manage products and on the nature of FSA intervention. FSA recognises its initiative has to take into account ongoing initiatives at EU and domestic level and that some of the issues raised in the paper should be dealt with at EU level. FSA asks for comment by 21 April 2011 and will use responses when preparing a paper it plans to publish before the end of June on its expected approach to transition to the CPMA. (Source: FSA/PN/011/2011 and DP11/1: Product Intervention)