Regulatory Alerts2023-03-07
Order on Product Approval Procedures
The Danish Financial Supervisory Authority issued this Order to implement MiFID II requirements by mandating that financial firms establish robust product approval and product governance procedures. It imposes strict obligations on product developers and distributors to define target markets, conduct scenario analyses, manage conflicts of interest, and ensure products remain suitable for their intended customers. The regulation supersedes previous orders and takes effect on March 13, 2023, with penalties for non-compliance.
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