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MiFID II increases the demands on financial service providers in order to enhance investor protection and transparency. The regulation concerns topics such as product design and governance, advisory process (e.g. client classification and disclosure of information), inducements, costs and fees, provision of services in the European Economic Area (EEA), trading, and records management. The areas most affected are product design and product control, since, for example, the focus is not only on distributors but rather on manufacturers of financial products. Through the concept of the so-called target market, the potential end customer as well as the distribution channel must already be defined on the basis of suitable criteria during the production of financial products. In this way, the manufacturer now shares the responsibility for investor protection.

Client benefit

  • Minimising legal and process risk (incl. reputational risk) of an asset manager with EU clients
  • Introduction of more efficient adequacy and suitability tests
  • Implementation of costs & fees requirements
  • Implementation of the target market concept for a distributor

finalix contribution

  • Leading the implementation of the MiFID II requirements for booking center CH for a major Swiss bank
  • Leading the implementation of the “costs & fees” requirements
  • Business analysis of the target market concept and its impact on a distributor’ s processes and systems
  • Functional lead of the implementation of the target market concept for a distributor

Our experts

Christian Ullrich 1
Senior Manager