Bankers told to lead from the top on Mifid governance rules

Structured products issuers’ strategy should reflect new guidelines, say regulators

Esma HQ
Esma proposed guidelines on Mifid product governance rules in October

Senior executives need to set the standards that ensure structured products manufacturers meet tough new guidelines on product governance under the second Markets in Financial Instruments Directive (Mifid II), regulators have warned.

"You should be careful this is not a tick-box exercise. The tone at the top of product governance, which is also linked to the strategic framework of the firm, is crucial," Marc van Efferen, a senior supervisor leading Mifid II consumer protection implementation at

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