Which of the following can act as a product producer to investment intermediaries?

• A. (i) only.
• B. (i) and (ii) only.
• C. (i) and (iii) only.
• D. (i), (ii) and (iii).

Answer: (C)

Product producers are the entities that design, develop, and bear the risk for a financial product, then supply it to investment intermediaries for distribution. They don’t just market or sell the product—they create it, set its terms, and stand behind it with the associated risks.

Why the two categories represented by the correct combination fit this role is that they each have the capability to design and support the product in a meaningful way. They can establish the product’s structure, features, pricing, and risk framework, which are essential for a genuine product producer. The other category, by contrast, would rely on others to provide the product and may only handle distribution or administration, not actual product design or risk-bearing. That’s why it isn’t considered a product producer.

So, the option that includes the two capable categories is correct because those are the ones that can truly act as product producers to investment intermediaries.