Tag Archives: Product governance

European Commission adopts IDD delegated regulations

The European Commission has adopted the following two delegated regulations in relation to IDD: conduct of business rules for the distribution of insurance-based investment products; and product oversight and governance requirements  for insurance undertakings and insurance distributors. The next step will be for the Council of the EU and the European Parliament to consider the […]

Examining product governance guidelines under MiFID II

The product governance guidelines under MiFID II are part of the regulatory framework aimed at protecting investors across the EEA.  ESMA published its final report on the guidelines on 2 June 2017. Bond Dickinson has produced a briefing note that looks at: the purpose of the guidelines, how the guidelines differ from ESMA’s consultation, the […]

ESMA finalises product governance guidelines

ESMA has published its final report on product governance guidelines under MiFID 2. It received over 100 responses to its consultation on the guidelines, which were generally supportive. However, ESMA has made some changes to the guidelines as a result of the comments. The final guidelines will now apply from 3 January 2018 and will […]

WMA responds on product governance

WMA’s response to ESMA’s consultation on draft guidelines on product governance under MiFID 2 highlights: that execution-only firms are not clear on what is expected of them, given the restricted information they hold about their clients; the need to stress manufacturers of mass market products should seek only relevant information. WMA thinks the focus should […]

ESMA’s MiFID 2 product governance guidelines

Andrew Barber and Emma Radmore gave an interview to Lexis PSL on ESMA’s draft product governance guidelines for manufacturers and distributors of products covered by MiFID 2. We have now published the contents of this interview.

ESMA consults on product governance guidance

ESMA is consulting on draft guidelines for supervisors to help them assess whether product manufacturers and distributors have properly complied with MiFID 2’s requirements on product governance. The guidelines focus on the determination of target markets for products.