On 3 January 2018, the revised Markets in Financial Instruments Directive (MiFID) and Markets in Financial Instruments Regulation (MiFIR), together "MiFID II", will come into force. MiFID II covers investment firms operating in the European Economic Area ('the EEA') and addresses a number of weaknesses identified during the financial crisis. It introduces greater protection for investors and seeks to make financial markets in Europe more resilient, transparent and investor-friendly.
MIFID II introduces a new product governance regime where the regulation takes a fresh look at how products are governed from the product development stage through the life of the financial instrument, emphasizing two regulatory concepts;
• Manufacturers – i.e. investment firms that create, develop, issue and / or design financial instruments.
• Distributors – i.e. investment firms who offer and/or recommend investment products and services to investors
The objective of the regime is consumer protection – namely, to ensure that firms, which manufacture and distribute financial instruments, act in the best interests of clients during all stages of the product life cycle
The regime contains the following key elements:
• Firms must have a process for approving products based upon the identified needs of a specified target audience (the “Target Market”);
• Manufacturers of products must provide distributors with sufficient information, including the manufacturer’s view of the Target Market, to enable the distributor to carry out its role of successfully distributing the product, in addition to relevant MIFID suitability and appropriateness criteria
Barclays Manufacturer Target Market
As a Manufacturer, Barclays must communicate the intended Target Market, Product high level information on the approval process and Distribution Strategy to the Product Distributor.
This webpage has been created to host a list of financial instruments manufactured by Barclays with the assigned Target Market and Distribution Strategy.
For Target Market information on Barclays manufactured Retail Structured Products please check www.barx-is.com or speak to your Barclays Sales rep
Distributor feedback or any questions / queries on information on this page should be sent to firstname.lastname@example.org; a distributor feedback form is provided here (xls, 44kb).