European regulator spells out product governance shortcomings, points the minority of manufacturers commercial interests are taking preference over customers’ needs
Product manufacturers have implemented the required guidelines and processes around product oversight and governance (POG) arrangements, but this is not necessarily being done ‘in a way that put the necessary focus on ensuring that consumers’ needs are met’, according to the European Banking Authority (EBA). The regulator’s report on implementation of the its guidelines on POG found that manufacturers had POG arrangements in place as required by the guidelines and had ma
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