Bafin<\/a> reports that the European Securities and Markets Authority (ESMA) has made available a new draft that is intended to regulate the development and distribution management of financial products (product governance) more concretely. At the centre of the draft are the requirements for the determination of the target market which companies have to determine within the framework of MiFID II (Markets in Financial Instruments Directive II). The content of these requirements according to Article 16 (3) and Article 24 (2) of MiFID II is that product approval procedures must be used by manufacturers and distributors of financial instruments in order to avoid conflicts with the interests of clients. In particular, the risks of the target market must be assessed and the distribution strategy must be appropriate. ESMA is accepting comments until 5 January 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"Concretisation of product governance for financial products Bafin reports that the European Securities and Markets Authority (ESMA) has made available a new draft that is intended to regulate the development and distribution management of financial products (product governance) more concretely. At the centre of the draft are the requirements for the determination of the target […]<\/p>\n","protected":false},"author":3,"featured_media":4899,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"\n
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