Abstract
The implementation of MIFID II has been underway for many years. This significantly affected the distribution of financial products to investors within the European market. The relationship between the manufacturers of the products and distributors has been tightened and now requires more oversight and understanding, as well as new exchanges of information and data. One of the main aims is to provide transparency of the costs borne by investors for the products they hold; this has led to the disclosure of product costs as well as the commissions received by the distributors to the end investors, both prior to and on an ongoing basis. The industry has been working together to standardise these areas and on the whole, this has been a success; but, this has brought about a number of new issues and will need further refinement to be fully understood by a typical retail investor. While the regulation is live, there remain areas that need to be addressed during 2018 to resolve ongoing operational processes as well as the oversight of distributors, to ensure that products are not sold via channels or to investors that are not suitable.
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