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By Pierre-Thibault Aveline de Rossignol, Senior Regulatory Adviser, FundGlobam
MiFID II directly impacts European distributors, and most other entities in the asset management value chain. While management companies are not directly in scope, in effect, their close relationship with MiFID firms brings them into the scope of key MiFID II requirements. The MiFID II requirements apply in the European Economic Area (EEA) , but some impacts will be felt beyond the borders of the EEA.
Product governance
From a product governance perspective, a distinction is made between the product manufacturer and the product distributor. In the funds industry, the management company plays the role of product manufacturer.
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