Clifford Chance
MiFID2 for Asset Managers and Private Banks
27 October 2014
The landscape of European asset management is set to change, with the implementation of MiFID2 in January 2017. Although it is too early to tell precisely what this landscape will look like, as in many cases the Level 1 framework is to be supplemented by detailed Level 2 implementing measures, a number of key issues are emerging. In particular, these concern product manufacturing and distribution, driven primarily by new rules on product governance, inducements, the introduction of the concept of ‘independent advice’ and the review of what constitutes complex and non-complex products.
In this briefing, we examine these issues and explore some of the more pressing questions for the asset management and private wealth industry.
