FECIF - The European Federation of Financial Advisers and Financial Intermediaries
  • SAVE THE DATE // 10/DEC/2015 // SAVE THE DATE
  • 2nd EUROPEAN FINANCIAL CONFERENCE 2015
  • 10 DECEMBER 2015 // BRUSSELS, BELGIUM
  • »SOCIAL WELFARE IN TIMES OF ECONOMIC STAGNATION:«
  • Can smart regulation stimulate private pensions?
  • 10th DECEMBER 2015 // Renaissance Hotel, BRUSSELS (BE)
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See photos from the FECIF conference 2015

 

 

 

David CharletVania Franceschelli
FECIF Board Member & ANASF Executive Committee Member

Product governance requirements will lead to greater quality of advice

Product governance requirements represent one of the most outstanding innovations of MiFID II, aiming at ensuring that firms which manufacture and distribute financial instruments act in the clients’ best interests during all the stages of the product life-cycle. While these new requirements cover a broad range of topics, on 2nd June 2017 ESMA has adopted specific guidelines which mainly address the “target market assessment”, considering this issue one of the most important aspects in order to ensure a consistent application of MiFID II provisions. Prior to the adoption of these guidelines, ESMA published a Consultation Paper, to which both FECIF and Anasf (the national association representing financial advisors in Italy) responded.

The ESMA guidelines are an important step in the direction of enhanced investor protection and regulatory convergence. In this sense, we can completely subscribe to the new guidelines when they establish that target market identification should not solely rely on quantitative criteria, but needs to be based on sufficient qualitative considerations as well (e.g. customer satisfaction). Similarly, the list of five categories to be used as a basis for identifying the target market can be read as a synopsis of good market practices...
 

 

  
 

The European Federation of Financial Advisers and Financial Intermediaries (FECIF) was chartered in June 1999 for the defence and promotion of the role of financial advisers and intermediaries in Europe.

FECIF, the only body representing European financial advisers and intermediaries, it is based in Brussels, the heart of Europe.

 

 

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NEW: FECIF Board Meeting 2017

Board Meeting July 2017 - Paris, France

 

 

 

 

 

 

 

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Fédération Européenne des Conseils et Intermédiaires Financiers (FECIF)
“Generali” Tower - Business Centre
Avenue Louise 149/24
B-1050 Brussels
BELGIUM

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