The markets in financial instruments directive II (MiFID II) introduced a new regime of investor protection rules centred around product governance. Investment firms manufacturing and distributing financial instruments are required, as of the 3rd of January 2018, to implement internal procedures that enhance the level of investor protection by ensuring that both manufactures and distributors of financial instruments are acting in the best interests of their clients. The objective of the product governance regime is to enhance the regulation of financial instruments throughout each stage of their life-cycle. The product governance requirement of Art.16 MiFID II is transposed in Cyprus legislation by Art. Of the Law regarding the provision of Investment Services, the exercise of investment activities and the operation of regulated markets L.87(I)2017 and further elaborated upon by the the CySEC’s Circular C236 and C261. This seminar will analyse the regulatory requirements imposed on regulated entities regarding product governance at the European and Cyprus level, review updates since the early 2018 in this field and discuss current practises for establishing and maintaining product governance regimes.
The course is addressed to:
Professionals involved in product design, directors of CIFs, risk management, compliance and internal auditors should attend. Also, people involved in marketing should attentd because they will be able to see how their role fits within product governance framework.
Product Governance requirements under MiFID II
Product Governance requirements under Cy Law
ESMA Materials & Guidelines
Updates on Product Governance
Compliance Officer and other Control Functions
Target market identification
Client knowledge & experience
Client objectives & needs
Distribution strategy On-going review
Demonstrate a model product governance regime
Mode of study
Method of instruction
Chrysostomos Kalos is the the Head of Dealing department in a CIF and is serving as an Independent Non-Executive Director and Supervisory Board Member in Investment Firms. He is also a Lecturer / Tutor at UNICAF University where he is teaching Business and Management courses to MBA online students.
Chrysostomos is a BBA and MBA degree holder, a certified HRDA trainer, a certified Mediator from the Ministry of Justice and a holder of Financial Services Legal Framework (Advanced Level) Certification issued by Cyprus Securities and Exchange Commission.
Demetris Hadjiossif is the CEO of Globia Wealth. He is a financial services professional with a legal background and a specialization in the field of Compliance. Demetris holds an LLB and LLM from the University of Aberdeen and is a holder of the Financial Services Legal Framework (Advanced Level) Certification issued by the Cyprus Securities and Exchange Commission. Throughout his career he has been involved with investment firms ranging from AIFMs and portfolio managers to online trading providers.
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