Guidelines · ESMA
Guidelines on MiFID II product governance requirements
Published
Read the official text on the ESMA website(opens in a new tab)AI-generated Summary
ESMA's original guidelines (ESMA35-43-620), applying from 3 January 2018, on the product governance obligations in Articles 16(3) and 24(2) MiFID II: how manufacturers identify a target market and distribution strategy, how distributors refine and review them, and issues common to both, with illustrative examples. ESMA has since issued revised guidelines.
Details
| Reference | ESMA35-43-620 |
|---|---|
| Issuer | ESMA |
Provisions it relates to
- Article 16 MiFID II · Organisational requirementsESMA rulebook
- Article 24 MiFID II · General principles and information to clientsESMA rulebook
Documents that refer to it
- Q&AAnsweredExplicit reference
AI summaryIn a Commission answer, firms setting the negative target market for a product that does not consider sustainability factors must also consider any clients' sustainability-related objectives the product is incompatible with, though depending on the product this may result in no negative target market for that criterion.