Regulatory Alerts2022-07-18
Added · Updated
ESMA Public Statement on 2021 Common Supervisory Action on Product Governance
ESMA published a public statement detailing the main findings of the 2021 Common Supervisory Action on MiFID II Product Governance requirements, which involved inspections of 214 firms across 26 EU and EEA jurisdictions. All licensed investment firms and credit institutions are expected to align their policies, procedures, and practices with these findings, regardless of whether they were subject to inspection. ESMA has decided to review its existing guidelines to address areas of non-convergence and incorporate good practices, with a consultation paper closing on 7 October 2022 and a final report expected in Q1 2023.
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