Revision to FIN-FSA regulations and guidelines 7/2018 concerning MiFID II product governance requirements

By revising regulations and guidelines 7/2018, the Financial Supervisory Authority (FIN-FSA) implements nationally the European Securities and Markets Authority’s (ESMA) guidelines on MiFID II product governance requirements (ESMA35-43-3448). These guidelines replace the ESMA guidelines ESMA35-43-620 on the same topic.

The revision enters into force on 3 October 2023.

In its regulations and guidelines, the FIN-FSA recommends that entities falling within the scope of application of the ESMA Guidelines comply with them.

The guidelines on certain aspects of the MiFID II product governance requirements builds on the text of the 2018 ESMA guidelines, which have been reviewed to consider among others the specification of any sustainability-related objectives a product is compatible with and the practice of identifying a target market per cluster of products instead of per individual product (“clustering approach”).

For further information, please contact

Saara Rundqvist, Senior Supervisor, +358 9 183 5320 or saara.rundqvist(at)finanssivalvonta.fi

Appencides

FIN-FSA regulations and guidelines 7/2018 on the organisation and code of conduct of investment services (in Finnish)

ESMA guidelines on MiFID II product governance requirements (ESMA35-43-3448) (in Finnish)