The European Securities and Markets Authority (Esma) has released the Final Report on product governance guidelines under the Markets in Financial Instruments Directive 2 (Mifid 2) regarding the target market assessment by manufacturers and distributors of financial products.

The requirements on product governance were introduced under Mifid 2 to enhance investor protection by regulating all stages of the life-cycle of products or services in order to ensure that firms which manufacture and distribute financial instruments and structured deposits act in the clients' best interests. The proposed guidelines address issues specific to manufacturers and distributors as well as issues common to both. The Final Report follows the consultation paper issued on 5 October 201

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