Draft guidelines on MiFID II product governance requirements

Draft guidelines on MiFID II product governance requirements

from 05 October 2016 to 05 January 2017


This paper is primarily of interest to competent authorities and firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council1 (MiFID II). In particular, this paper is addressed to investment firms and credit institutions performing investment services and activities and their staff; especially, firms which manufacture financial instruments or structured deposits for sale to clients as well as the firms which distribute them. This paper is also important for trade associations, investors, and consumer groups, because the guidelines seek to implement enhanced provisions, to ensure investor protection with potential impacts for anyone engaged in the dealing with or processing of financial instruments.

ESMA will consider all comments received by 5 January 2017.

All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’.

Documents available for this Consultation
05/10/20162016/1436Consultation Paper on Draft guidelines on MiFID II product governance requirements
05/10/20162016/1438ESMA consults on product governance guidelines to safeguard investors


Activity Institution Download
Securities and Markets Stakeholder Group (SMSG)
Asset Management The Association of Investment Companies
Asset Management Schroder Investment Management Limited
Asset Management BVI
Asset Management Bankhaus Neelmeyer
Asset Management Matthias Kremer Finanzdienstleistungsinstitut
Asset Management BMI
Asset Management AF Advisors
Asset Management Amundi
Asset Management MRB Partner
esma.docx (18.57 KB)
Asset Management INVERCO (Asociación de Instituciones de Inversión Colectiva y Fondos de Pensiones)
Asset Management EFAMA
Asset Management Censeo Vermögensverwaltung GesmBH
Asset Management Dale Investement Advisors
Asset Management ETHOS Vermögensverwaltung GmbH
Asset Management BlackRock
Asset Management Manufacturer and Distributor Industry Target Market Working Group
Asset Management Assogestioni
Asset Management Association de la Gestion Financiere
Banking UniCredit
Banking Commerzbank AG
Banking French Banking Federation
target_market.docx (13.42 KB)
Banking European Structured Investment Products Association
Banking Deutsche Bank
Banking AIPB
Banking European Savings and Retail Banking Group
Banking Nordic Securities Association
Banking Intesa Sanpaolo
Banking OP Financial Group
Banking Deutscher Derivate Verband (DDV) - German Derivatives Association
Banking Association of Foreign Bank in Germany
Banking German Banking Industry Committee (GBIC)
Banking European Association of Co-operative Banks (EACB)
Banking Luxembourg Bankers' Association - The ABBL
Banking Slovak Banking Association
Banking International Capital Market Association
Banking Dutch Banking Association
Banking Spanish Banking Association and Spanish Confederation of Savings Banks
Banking Deutscher Sparkassen- und Giroverband (German Savings Bank Association, DSGV)
Banking European Banking Federation
Government, Regulatory and Enforcement CNMV
Insurance and Pension European Federation of Financial Advisers and Financial Intermediaries (FECIF)
Investment Services ASCOSIM
Investment Services Baumeister & Borndörfer
Investment Services Wealth Management Association
Investment Services Morningstar
Investment Services Associazione Intermediari Mercati Finanziari - ASSOSIM
sped120-12-16.pdf (544.96 KB)
Investment Services ASSORETI Association of intermediaries wich provide investment advice service
Investment Services Swedish Investment Fund Association
Investment Services BIPAR
Investment Services The Investment Association
Investment Services Verband unabhängiger Vermögensverwalter Deutschland e.V.
Investment Services Top Ten Investment Consulting GmbH
Investment Services AMAFI
Investment Services Anasf
Investment Services Meinl Success Finanz AG
Investment Services Chamber of Brokerage Houses
Legal and Accountancy Studio Legale Craca Di Carlo Guffanti Pisapia Tatozzi & Associati
Exchanges and Trading Systems Börse München
Others The Finnish Structured Products Association
Others Bundesverband Deutscher Vermögensberater e. V. Frankfurt am Main
Others Quoted Companies Alliance
Others DECO - Portuguese Consumer Protection Association
Others AIMA and MFA
Others AFTI
Others Austrian Federal Economic Chamber, Division Bank and Insurance
Others Deutsche Schutzvereinigung für Wertpapierbesitz (DSW ) e.V.
Others ALFI
Others Better Finance
Others ACEPI
Others European Investors' Association IVZW
Others CFA Institute
Others Italian Banking Association
Others Swiss Life Select
Insurance, pension & asset management FinanzPuls AG
brief_esma.pdf (103.21 KB)
Fintech FundAssist Limited