{"id":66865,"date":"2026-03-12T13:49:27","date_gmt":"2026-03-12T11:49:27","guid":{"rendered":"https:\/\/www.lexia.it\/2026\/03\/12\/value-money-directive-ris-directive\/"},"modified":"2026-03-12T13:55:36","modified_gmt":"2026-03-12T11:55:36","slug":"value-money-directive-ris-directive","status":"publish","type":"post","link":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/","title":{"rendered":"Value for Money in the RIS Directive"},"content":{"rendered":"\n<p>The Retail Investment Strategy (RIS) is set to come into effect soon, introducing significant changes in the landscape of retail financial product distribution, with direct impacts on the MiFID and IDD directives. One of the key novelties of the RIS is the reinforcement of financial product governance requirements, through the introduction of the Value for Money (VfM) principle, which is set to transform how financial product manufacturers and distributors will operate.<\/p>\n\n\n\n<p>Under the new rules, producers and distributors of retail investment products will need to demonstrate that the costs associated with the products are justified by the performance and benefits provided to investors. This evaluation will need to be done not only for individual products but also by comparing them to a peer group of comparable instruments at both the national and European levels.<\/p>\n\n\n\n<p>The introduction of this measure will have significant implications: products that do not meet these criteria may be subject to corrective measures, ranging from modifications to the product&#8217;s characteristics to withdrawal from the market in extreme cases.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.lexia.it\/es\/professionista\/angelo-messore\/\">Angelo Messore<\/a>, partner at LEXIA, shared his opinion on the matter in an interview with <em>Il Sole 24 Ore<\/em>: \u201cThe value for money rules can have a blocking effect on distribution processes. If the product does not meet these criteria or deviates significantly from the peer group, it cannot be distributed, or the intermediary must evaluate remedial measures to correct the value-for-money ratio.\u201d<\/p>\n\n\n\n<p>These observations highlight how the regulation can directly influence financial product distribution strategies, imposing greater responsibility and transparency on institutions in evaluating offerings.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/20260307-LEXIA-Il-Sole-24-Ore-Direttiva-Ris.pdf\">Read the full interview here ><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Retail Investment Strategy (RIS) is set to come into effect soon, introducing significant changes in the landscape of retail financial product distribution, with direct impacts on the MiFID and IDD directives. One of the key novelties of the RIS is the reinforcement of financial product governance requirements, through the introduction of the Value for &hellip; <a href=\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\">Continued<\/a><\/p>\n","protected":false},"author":13,"featured_media":66859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[838],"tags":[],"area":[],"collana":[],"competenza":[734],"class_list":["post-66865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-es","competenza-financial-services-regulatory-fintech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Value for Money in the RIS Directive - LEXIA<\/title>\n<meta name=\"description\" content=\"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Value for Money in the RIS Directive - LEXIA\" \/>\n<meta property=\"og:description\" content=\"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\" \/>\n<meta property=\"og:site_name\" content=\"LEXIA\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-12T11:49:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-12T11:55:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1640\" \/>\n\t<meta property=\"og:image:height\" content=\"924\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\",\"url\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\",\"name\":\"Value for Money in the RIS Directive - LEXIA\",\"isPartOf\":{\"@id\":\"https:\/\/www.lexia.it\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png\",\"datePublished\":\"2026-03-12T11:49:27+00:00\",\"dateModified\":\"2026-03-12T11:55:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.lexia.it\/#\/schema\/person\/91f22c316f63e9d080a0fb814a34db5b\"},\"description\":\"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage\",\"url\":\"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png\",\"contentUrl\":\"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png\",\"width\":1640,\"height\":924,\"caption\":\"value-money-ris-directive\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.lexia.it\/es\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Value for Money in the RIS Directive\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.lexia.it\/#website\",\"url\":\"https:\/\/www.lexia.it\/\",\"name\":\"LEXIA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.lexia.it\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.lexia.it\/#\/schema\/person\/91f22c316f63e9d080a0fb814a34db5b\",\"name\":\"Christian\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.lexia.it\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/470a76d7f2151b16bedeed55f5eaef104b54eeda7aeeee817ff29f1aa1798415?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/470a76d7f2151b16bedeed55f5eaef104b54eeda7aeeee817ff29f1aa1798415?s=96&d=mm&r=g\",\"caption\":\"Christian\"},\"url\":\"https:\/\/www.lexia.it\/es\/author\/christian\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Value for Money in the RIS Directive - LEXIA","description":"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/","og_locale":"es_ES","og_type":"article","og_title":"Value for Money in the RIS Directive - LEXIA","og_description":"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.","og_url":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/","og_site_name":"LEXIA","article_published_time":"2026-03-12T11:49:27+00:00","article_modified_time":"2026-03-12T11:55:36+00:00","og_image":[{"width":1640,"height":924,"url":"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png","type":"image\/png"}],"author":"Christian","twitter_card":"summary_large_image","twitter_misc":{"Escrito por":"Christian","Tiempo de lectura":"2 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/","url":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/","name":"Value for Money in the RIS Directive - LEXIA","isPartOf":{"@id":"https:\/\/www.lexia.it\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage"},"image":{"@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage"},"thumbnailUrl":"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png","datePublished":"2026-03-12T11:49:27+00:00","dateModified":"2026-03-12T11:55:36+00:00","author":{"@id":"https:\/\/www.lexia.it\/#\/schema\/person\/91f22c316f63e9d080a0fb814a34db5b"},"description":"The RIS will introduce new rules on Value for Money, impacting MiFID and IDD, with changes in the distribution of financial products.","breadcrumb":{"@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#primaryimage","url":"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png","contentUrl":"https:\/\/www.lexia.it\/wp-content\/uploads\/2026\/03\/il-sole-24-ore-messore-1.png","width":1640,"height":924,"caption":"value-money-ris-directive"},{"@type":"BreadcrumbList","@id":"https:\/\/www.lexia.it\/es\/2026\/03\/12\/value-money-directive-ris-directive\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.lexia.it\/es\/"},{"@type":"ListItem","position":2,"name":"Value for Money in the RIS Directive"}]},{"@type":"WebSite","@id":"https:\/\/www.lexia.it\/#website","url":"https:\/\/www.lexia.it\/","name":"LEXIA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.lexia.it\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Person","@id":"https:\/\/www.lexia.it\/#\/schema\/person\/91f22c316f63e9d080a0fb814a34db5b","name":"Christian","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.lexia.it\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/470a76d7f2151b16bedeed55f5eaef104b54eeda7aeeee817ff29f1aa1798415?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/470a76d7f2151b16bedeed55f5eaef104b54eeda7aeeee817ff29f1aa1798415?s=96&d=mm&r=g","caption":"Christian"},"url":"https:\/\/www.lexia.it\/es\/author\/christian\/"}]}},"_links":{"self":[{"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/posts\/66865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/comments?post=66865"}],"version-history":[{"count":2,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/posts\/66865\/revisions"}],"predecessor-version":[{"id":66869,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/posts\/66865\/revisions\/66869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/media\/66859"}],"wp:attachment":[{"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/media?parent=66865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/categories?post=66865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/tags?post=66865"},{"taxonomy":"area","embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/area?post=66865"},{"taxonomy":"collana","embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/collana?post=66865"},{"taxonomy":"competenza","embeddable":true,"href":"https:\/\/www.lexia.it\/es\/wp-json\/wp\/v2\/competenza?post=66865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}