MFSA safeguards consumers by ensuring proper design and
distribution of financial products
The MFSA has published the fifth volume of the publication
‘The Nature and Art of Financial Supervision' which is
focused on product oversight and governance (“POG”)
Requirements. POG ensures that authorised entities, including
credit institutions, have detailed policies and procedures
specifying the steps taken during the manufacturing and/or
distribution process to ascertain that their products are useful
and provide value for money.
This publication is the result of a “cross-sectoral
thematic review” carried out by the MFSA in order to assess
whether entities in the financial services sectors, including
banks, adhere to the POG Requirements applicable to them. In its
writing, the MFSA specified good practices, and practices that
ought to be worked upon with the aim of ensuring compliance with
the Conduct of Business Rulebook and European Guidelines on POG and
all
