ESMA publishes Guidelines on MiFID II product governance requirements
Published: 06 February 2018
On 5 February 2018, the European Securities and Markets Authority published the Guidelines on MiFID II product governance requirements.
The guidelines confirm ESMA’s position on the target market assessment by manufacturers and distributors of financial products. This follows a lengthy consultation process, with the publication of their final report on the guidelines in June 2017. The guidelines will be relevant for MiFID investment firms manufacturing and/or distributing products. The FCA has also confirmed that MIFID2 product governance requirements will also apply to non-MiFID firms, such as AIFMs, as guidance.