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Product Governance

This Product Governance training course provides an overview of product governance, a process that spans the entire life cycle of financial products and that requires firms to consider a product’s general suitability for its target market.

Geography Covered: EMEA | Duration: 30 minutes

Summary

Product governance is the process of creating, maintaining, and retiring financial products in a way that ensures the customer receives a product that is appropriate for their immediate and future financial goals. Product governance principles impose certain responsibilities on providers and distributors of financial products, including investments, insurance policies, loans, lines of credit, and bank accounts. At the core of those responsibilities is the principle that providers and distributors must treat customers fairly and provide good value throughout the product’s life cycle.

The Financial Conduct Authority (FCA) regulates product governance in the UK financial industry. The Responsibilities of Providers and Distributors for the Fair Treatment of Customers (RPPD) sets forth the guidelines the regulator expects market participants to follow. The European Commission’s recent revisions to its Markets in Financial Instruments Directive (MiFID II) sets forth additional requirements to which all European Union members are expected to adhere by January 2017. This product governance training course introduces both RPPD and MiFID II product governance responsibilities.

The topics covered in the course include:

  • Introduction to product governance
  • Mis-selling
  • Financial product development
  • Future product governance requirements
  • Product life cycle
    • Product Governance (UK/Europe)
  • Like with all our courses, the Product Governance training course was written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.

    All our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.

    We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and helps you build a culture of integrity and compliance.

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