MiFiD II Applied Product Governance for Investment Firms

The new rules of MiFID II and PRIIPs as well as of the relevant delegated acts came in force on 3 January 2018.

On the 3rd of January 2018, the new regulatory framework on the provision of investment services (MiFID II) and the packaged retail and insurance-based investment products (PRIIPs), were transposed into Law, bringing vast changes to the regulatory regime for Investment Firms and affected entities in Cyprus and the EU. According to the Commission, existing disclosures to retail investors for PRIIPs are uncoordinated and often do not help retail investors to compare different products, or understand their features. Consequently, retail investors have often made investments without understanding the associated risks and costs and have, on occasion, suffered unforeseen losses. Improving the transparency of PRIIPs offered to retail investors is an important investor protection measure and a precondition for rebuilding the confidence of retail investors in the financial market, in particular in the aftermath of the financial crisis.

Learning Objectives

Participants will learn how to:

• Recognize major requirements of MiFID II relating to Product Governance for Investment Firms
• Recognize major PRIIPS requirements
• Learn how to structure KIDs
• Recognize internal and external weighting of factors and data used
• Recognize and establish their Target market
• Collect the relevant client information for Appropriateness purposes
• Recognize major investor protection issues
• Review latest and related ESMA Q&A

Who Should attend

Anyone involved in product design, risk management, compliance and corporate governance should attend. Also people involved in marketing coming because they will be able to see how their role fits within product governance framework.

Workshop

This workshop is designed to be participative throughout. The agenda will combine key formal presentations, case studies and syndicate discussion sessions. There will be ample opportunity for delegates to benchmark experiences with industry peers and raise issues of most concern to their organisation, either confidentially or in open session.

Suggested equipment

We recommend to participants to bring their personal laptop for the workshop.

Microsoft Excel will be used.

Continuous Professional Development (CPD)

According to CySEC’s requirements, persons registered in the Public Register of Certified Persons must renew their registration on a yearly basis by submitting to CySEC within two months from the end of each calendar year a statement of continued professional training on topics that fall within the existing legislation on the capital market.