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ARTICLE · 25 APRIL 2023

ESMA Issues Revised Guidelines On MiFID II Product Governance Requirements

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On 27 March 2023, the European Securities and Markets Authority ("ESMA") published a Final Report: Guidelines on MiFID II product governance requirements (the "Final Report").

MaltaCorporate/Commercial Law
Mark Caruana Scicluna
Mark Caruana Scicluna
Yasmine Ellul
Yasmine Ellul
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On 27 March 2023, the European Securities and Markets Authority ("ESMA") published a Final Report: Guidelines on MiFID II product governance requirements (the "Final Report").

The Final Report builds on ESMA's 2017 Guidelines on MiFID II product governance requirements following recent regulatory and supervisory developments, including the recent sustainability-related amendments to the MiFID II Delegated Directive. The product governance requirements are one of the most significant elements of the investor protection framework under MiFID II. Investment firms should ensure that financial products are manufactured and/or distributed in the client's best interests at all times.

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