Product Governance – FCA Expectations


Product Governance – FCA Expectations

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Product governance seems almost certain to become the hot topic of the 2020s. Last year saw businesses issued with fines and other enforcement action. At both UK and European level, regulators have inspected and interfered with the way products are put together and sold. This course examines the investment perspective of the issues which arise from regulator scrutiny, including insurance-based products. The course examines both, in terms of the processes required and the activities that make up product governance by taking into consideration best practices in building and reviewing a product – from identifying the target market to distributing.

Price £699.00 + VAT

Course Syllabus


  • Defining What We’re Talking About!

  • Key Materials to consider – MiFID 2, IDD & Delegated Directive, Articles 9 & 10 & POG

  • How Does PROD Work?

  •  Why is product governance important – consequences of failure

  • Review key Financial Conduct Authority (FCA) Principles

Governance and systems

  •  The product governance committee and its role

  • Who Has To Be There? When? Doing What? 

  • The product governance team

  • Making the Product Risk Management “Book”

  • Oversight and reviews of the process by the Board

  • Role of compliance and compliance reports to the Board

Product governance tasks

  • Identifying Target Market (for both manufacturers and distributors)

  • Core Design – Essential material that must be included

  • Look at the key Product Risks – Investments

  • Stress Testing – how and what

  • Deciding on distribution – methods and distributors (both manufacturers and distributors)

  • Producing material on products and supplying it – What product governance information to send to distributors

  • Explanation on how to use European MiFID Template (EMT) and other disclosures

  • Distributor’s duties – to obtain information, co-operate with product reviews, reporting out-of-range sales

  • What to do post-launch and ongoing review – relevant management information and decisions to take

Learning Objectives

  •  Learn about PROD, MiFID and IDD and the subordinate rules on product governance 

  • Appreciate how regulators expect product governance to work

  • Recognise the roles of those involved in product governance and its oversight

  • Learn to identify a target market

  • Learn the basics of stress testing

  • Learn how to detect inappropriate distribution

  • Understand the key to clear, fair and not misleading communication

Who is the course suitable for?

This course is suitable for anyone involved in product governance, risk and compliance. The course is especially relevant to senior managers and marketing departments – at either manufacturing or distributor firms.


Adam Samuel


Date And Time

10-March-2020 - 09:30
- 16:30




The London Institute of Banking & Finance

Event Category

Compliance Skills

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