MiFID II Product Governance and Development.

Adam Samuel

MiFID II Product Governance and Development.

by Adam Samuel
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Course Overview

Product governance is probably the most important new subject area for financial services professionals in the EU. It finally entered the regulatory vocabulary at European level with the implementation of MiFID 2, closely followed by that of the Insurance Distribution Directive’s own provisions on the subject.  ESMA has already intervened in the marketing and promotion to retail customers of binary options and contracts for differences. 

The subject has two sides to it. First, there is the process of carrying out product governance, the structures that businesses need to have in place to meet the regulators’ objectives. Then, there are the various tasks that manufacturers and distributors must undertake when launching products and on an ongoing basis.

In a turbulent compliance environment, regulators around the world are increasingly turning towards product governance, its processes and activities as a key to avoiding future miss-selling scandals. Yet, problems in this area keep emerging as businesses try to promote products using inappropriate distribution or without properly defined target markets or business controls.

Product governance could well be the big subject of 21st century compliance. Where once financial services regulators focused almost exclusively on sales practices, the spotlight is now firmly on the way firms develop their products and decide how to distribute them.

Since MiFID 2 introduced the subject at EU level, product governance by both manufacturers and distributors has become central to European regulation. On top of that, the European Securities and Markets Authority and now national regulators have intervened to restrict sales to retail customers in response to perceived governance failures.

Our trainer, Adam Samuel, is a compliance consultant based in the UK and brings to our discussions experience going back to the start of the millennium.


  • FEES: £180 + VAT
  • CPD Units: 6
  • Duration: 6 hrs



  • Monday 15/06/2020 – 9:00 am to 11:45 am
  • Tuesday 16/06/2020 – 9:00 am to 11:45 am


Training Objectives

By the end of the programme, participants will be able to:

  • Understand the key MiFID and MiFID-related provisions on product governance
  • Appreciate the goals of product governance and the risks of not achieving them
  • Identify strengths and weaknesses in product governance structures
  • Identify the positive and negative target markets of investment products and services
  • Piece together the key elements in designing a product or service
  • Determine the types of distribution that would not be suitable for certain types of products
  • Gather key management information about the success or otherwise of the governance process



Training Outline

  • What is product governance?
  • Where do you find out about it?
  • Defining manufacturer and distributor
  • The arrangements, structures and processes required
  • Who should do what, when and how?
  • The role of compliance and the company’s governing body
  • Product risk management – including joint manufacturing, staff competence and managing conflicts of interest
  • Reviews of the process – ongoing and regular product reviews
  • Identifying target market for the product or service
  • Creating the product and modelling it
  • Product testing
  • Distribution strategy
  • Selecting distributors & monitoring them
  • Producing marketing materials
  • Management information
  • Distributors’ specific tasks – know your product, co-operate with product reviews, reliance on provider material


Training Style

The training style is interactive involving a combination of discussions and presentation, group work and case studies (taken from real-live examples). Participants are encouraged to share their opinions from their different perspectives.


CPD Recognition

This programme may be approved for up to 6 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.


Who should attend

The programme is ideal for:

  • Board directors and chief executives
  • Compliance officers and managers
  • Product governance staff
  • Marketing
  • Risk managers


Who is Adam Samuel

Adam Samuel is a lawyer qualified in the UK and the USA. Since 1996, Adam has run his own training and consulting business, helping out regulators in three continents on customer-facing issues. He has the qualifications required of financial, mortgage and equity release advisers and the UK CISI compliance diploma.

Adam wrote the only book on consumer financial services complaint handling in the UK and a guide to the SFC Code for Intermediaries in Hong Kong. The Gibraltar Supreme Court followed his expert evidence in van Geens v. Jyske Bank on product risk, compliance and advice standards around the world. Adam has broadcast on a number of BBC domestic and World Service programmes, including the national news, on financial services compliance and banking issues.

To register for this event please visit the following URL:


Date And Time

15-June-2020 - 09:00
16-June-2020 - 11:45

Event Category


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