BIS central bankers’ speeches  3  •  The product must not be tailored to meet individual needs, but provide consumers with confidence that the product will meet their basic needs and offer them a fair deal; and  •  The product will be a viable commercial proposition for the provider. 14.
Financial sector regulators/ supervisors and consumer protection bodies need to keep a close watch on product design and financial innovation in order to ensure that these are oriented towards consumer needs and expectations. Market intelligence mechanism should also focus on identifying products which could, potentially, expose consumers to unintended outcomes.