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When developing products, financial organizations (product developers) must, among other things, specify the type of customers for which the product is suitable. Financial organizations that offer or advise these products to customers (product distributors) must ensure that it is sold to the right target group. This is also known as product governance.
In 2013, the Autoriteit Financiële Markten (AFM) started to supervise product development. As of January 2018, the requirements for product development and distribution for institutions subject to MiFID II legislation have been further tightened.
Would you like support in setting up the product governance processes within your organization? Charco & Dique can help you with: