Working with a large group of major structured product issuers we have helped to co-ordinate, develop and maintain template standards for describing common industry products to enable consistency across issuers and greater comparability for investors. We were also able to develop practical solutions to some of the regulations more complex challenges and enable the group to share the costs of legal advice.
MiFID II Product Governance
We conducted a market survey of a large number of interested structured product issuers prior to the implementation of the new MiFID II Product Governance regime. Our survey tackled the implementation approach for some of the more complex areas of the regulation and enabled participants across Europe to assess anonymously whether their intended approach was in-line with others across the industry or an outlier.
2019 will see fundamental changes to the structured product prospectus. We are developing a forum which will act as a catalyst to develop new industry standards and enable better investor comprehension. Leveraging collective expertise we expect to mutualise costs of implementing the new regime and capitalise on the change to enable faster and more extensive document automation.