ARTICLE
20 June 2017

MiFID II: Further Guidance On Product Governance Requirements

AM
Arendt & Medernach

Contributor

About Arendt

Arendt combines the entire value chain of services dedicated to Asset Managers, Banks, Insurers, Public Institutions and Private Clients operating in Luxembourg.

-Legal & Tax
-Regulatory & Consulting
-Investor Services

Legal & Tax

We assist clients in structuring and running their business from a legal and tax standpoint across Luxembourg. Our teams directly serve international clients or work in close collaboration with foreign partner law firms.

Together with our regulatory consultants and investor services experts, we bridge the gap between legal/tax advice and its implementation. We deliver best-in-class services along our clients’ business life cycles.

The 450 legal experts of Arendt & Medernach have a wealth of experience in a wide variety of specialisations. Together, they are able to advise on a complete range of 15 complementary practice areas

Amongst the numerous topics covered by the MiFID II, the ESMA has decided to provide further guidance on the requirements regarding product governance through its guidelines dated 2 June 2017...
Luxembourg Finance and Banking

Amongst the numerous topics covered by the Markets in Financial Instruments Directive II (MiFID II), the European Securities and Markets Authority (ESMA) has decided to provide further guidance on the requirements regarding product governance through its guidelines dated 2 June 2017 which focus on the target market assessment by manufacturers and distributors of financial products.

The main principles provided in these guidelines remain the same as in the consultation paper issued on 5 October 2016, although ESMA has modified the guidelines in some areas such as the number of categories to assess the target market, the requirements which should apply to simpler, more common investment products, as well as portfolio diversification.

Practical examples of target market assessment are also provided by ESMA, including for non-complex UCITS, which should make certain aspects of these guidelines easier to apply.

Arendt has built a significant expertise in assisting clients in the conduct of impact assessments, the implementation of processes and the drafting of documents in the context of MIFID II through the combined capacities of the law firm and Arendt Regulatory & Consulting.

Please click here to download our service offer
"Investment funds: Get ready for MiFID II".

We and our affiliated company Arendt Regulatory & Consulting are available to discuss the next steps and provide advice on the impact of MiFID II on your business, both from a legal and regulatory perspective.

Luxembourg Newsflash - MiFID II: Further guidance on product governance requirements

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More