Updated ESMA Guidelines on MiFID II product governance requirements

2 mn

On 27 March 2023, ESMA published its Final report on Guidelines on MiFID II product governance requirements.

On 27 March 2023, the European Securities and Markets Authority (“ESMA”) published its Final report on Guidelines on MiFID II product governance requirements (the “2023 Guidelines”).

 

1. Background

The 2023 Guidelines, which were preceded by a consultation paper (“CP”), replace the previous version of the guidelines issued by ESMA in 2017[1] and take account of recent regulatory and supervisory developments.

 

2. Aim

According to ESMA, the 2023 Guidelines’ main aims are to:

 

 

 

 

 

3. Key considerations

The main amendments introduced by the 2023 Guidelines include:

 

The 2023 Guidelines permit the alignment of “sustainability-related objectives” with the definition of “sustainability preferences” provided for in Article 2(7) of the amended MiFID II Delegated Regulation 2017/565.

 

 

 

 

In addition, the 2023 Guidelines are accompanied by case studies and a list of good practices.

 

4. Application date

The 2023 Guidelines will apply two months after translations into all EU official languages have been published on ESMA’s website.

 

Please ask our experts to help you to meet the challenges posed by the constantly evolving MiFID II framework.

 

Read the 2023 Guidelines here_

Read the CP here_

 

[1] ESMA35-43-620.

Download the press release

Luxembourg Newsflash – Updated ESMA Guidelines on MiFID II product governance requirements

pdf190 KB

Hot topics