MiFID II Product Governance: Practical Compliance

Introduction

MiFID II was introduced after repeated mis selling of complex, high-cost products to retail investors; as a result, the regulation requires investment firms to take responsibility for their products across the whole lifecycle, from design through distribution and review. ESMA's 2023 guideline revisions and the FCA's 2026 review of firms' practices under the Consumer Duty show that product governance remains a key supervisory focus.

Regulators now expect evidence of real decisions, meaningful target markets and working feedback between manufacturers and distributors. This course equips you to meet those expectations and prepare for what comes next.

This course assumes existing knowledge of the basics of MiFID II, so it spends little time on theory and focuses on how product governance works in practice, where firms go wrong and what is changing.

By the end, you will be able to run a product through an approval process that would stand up to supervisory review, build and document a target market that is useful rather than generic, operate the manufacturer-distributor information loop, apply the 2023 ESMA guideline changes and explain what the EU Retail Investment Strategy and recent UK developments mean for your firm.

What You Will Learn

This live and interactive course will cover the following:

• Explain the purpose of MiFID II product governance and where the requirements sit across Level 1, Level 2 and ESMA's guidelines
• Evaluate product proposals against manufacturer requirements
• Construct a target market across ESMA's five categories
• Design an effective information loop between manufacturers and distributors
• Apply the 2023 revisions to ESMA's guidelines on sustainability, clustering, non-advised distribution and proportionate review.
• Assess the impact of the Retail Investment Strategy's value-for-money framework and compare the EU approach with the UK's PROD rules and Consumer Duty

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.