Product governance is probably the most important new subject area for financial services professionals in the EU. It finally entered the regulatory vocabulary at European level with the implementation of MiFID 2, closely followed by that of the Insurance Distribution Directive’s own provisions on the subject.
ESMA has already intervened in the marketing and promotion to retail customers of binary options and contracts for differences and Cyprus and other European countries have responded to the ending of the ESMA measures by implementing their own version of this in autumn 2019.
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