Guidelines

05/02/2018 | ESMA35-43-620 Guidelines on MiFID II product governance requirements 2 Table of Contents I. Scope .. 3 II. Purpose .. 3 III. Definitions .. 4 IV. Compliance and reporting obligations .. 4 V. Guidelines on the application of Articles 16(3) and 24(2) of MIFID II .. 5 General .. 5 Guidelines for manufacturers .. 5 Guidelines for distributors .. 9 Guidelines on issues applicable to both manufacturers and distributors ..17 3 I. Scope Who? 1. These Guidelines apply to: firms subject to any of the following requirements: i. Article 9(3) of Directive 2014/65/EU1 (MiFID II); ii. Article 16(3) of MiFID II; iii. Article 24(1) and 24(2) of MiFID II; iv. Articles 9 and 10 of the Commission Delegated Directive (EU) 2017/5932 (MiFID II Delegated Directive). competent authorities with supervisory oversight of the above firms. What? 2. These Guidelines apply in relation to the requirements referred to in paragraph 1 of these Guidelines ; in particular, they concern the manufacturing or distribution of investment products.

creation, development, issuance or design of that product, including when advising corporate issuers on the launch of a new product; ‘distributor’ means, taking into account Recital 15 and Article 10(1) of the MiFID II Delegated Directive, a firm that offers, recommends or sells an investment product and service to a client. IV.

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