Target market under MiFID II: the distributor's perspective

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11220%2F19%3A10398561" target="_blank" >RIV/00216208:11220/19:10398561 - isvavai.cz</a>

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=FBFOEV.g8y" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=FBFOEV.g8y</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1093/cmlj/kmz018" target="_blank" >10.1093/cmlj/kmz018</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Target market under MiFID II: the distributor's perspective

Popis výsledku v původním jazyce

One of the innovations introduced by MiFID II is product governance, including target market assessment as a crucial part of product governance measures. The target market of a financial instrument as an intended group of end clients sharing common characteristics shall generally be determined both by the manufacturer and the distributor of the respective financial instrument. From the related duties, the paper refers to those imposed on the distributor. The paper addresses the following issues. Firstly, what is the target market, including the distributor&apos;s target market, and what are the distinct types of target markets? Secondly, which process and criteria should the distributor apply when assessing the target market? How does the distributor&apos;s target market interact with the manufacturer&apos;s target market and are there any frictions? Thirdly, what are the theoretical and practical issues in case an out-of-scope manufacturer is involved? Is there any specific information the distributor shall assess and if so, where to find it? Finally, which consequences arise from the interaction between target market assessment and the suitability/appropriateness assessment under MiFID II? Namely, could the financial instrument be distributed within the so called negative target market and at the same time be appropriate and/or suitable at the level of an individual client as a representative of the negative target market?

Název v anglickém jazyce

Target market under MiFID II: the distributor's perspective

Popis výsledku anglicky

One of the innovations introduced by MiFID II is product governance, including target market assessment as a crucial part of product governance measures. The target market of a financial instrument as an intended group of end clients sharing common characteristics shall generally be determined both by the manufacturer and the distributor of the respective financial instrument. From the related duties, the paper refers to those imposed on the distributor. The paper addresses the following issues. Firstly, what is the target market, including the distributor&apos;s target market, and what are the distinct types of target markets? Secondly, which process and criteria should the distributor apply when assessing the target market? How does the distributor&apos;s target market interact with the manufacturer&apos;s target market and are there any frictions? Thirdly, what are the theoretical and practical issues in case an out-of-scope manufacturer is involved? Is there any specific information the distributor shall assess and if so, where to find it? Finally, which consequences arise from the interaction between target market assessment and the suitability/appropriateness assessment under MiFID II? Namely, could the financial instrument be distributed within the so called negative target market and at the same time be appropriate and/or suitable at the level of an individual client as a representative of the negative target market?

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50501 - Law

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Capital Markets Law Journal

ISSN

1750-7219

e-ISSN

—

Svazek periodika

14

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

13

Strana od-do

518-530

Kód UT WoS článku

000493335000006

EID výsledku v databázi Scopus

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