In a recent contribution published on Diritto Bancario, Angelo Messore, partner at LEXIA, analyses the evolution of the obligations concerning the comparison of financial instruments in the transition from MiFID II to the Retail Investment Strategy (RIS).
The article examines the relationship between the existing safeguards provided under MiFID II, including the equivalence test and the cost-benefit analysis applicable in the event of a switch, and the new value for money principle introduced by the RIS.
The new regulatory framework strengthens the role of comparison within product governance, requiring assessments based on costs, performance and benefits, as well as comparisons with a peer group of comparable instruments.
The contribution explores the differences and potential overlaps between the two regimes, also in light of the forthcoming ESMA guidelines, highlighting the implementation challenges for financial intermediaries, manufacturers and distributors of financial products.
Read the full article on Diritto Bancario >
