It goes without saying that investments should only be recommended to, or included in discretionary portfolios of, clients whose needs, characteristics and objectives they meet. MiFID II has formalised this obligation by requiring advisers, platforms and DFMs (collectively referred to as distributors) to consider matching any funds or products with target markets based on given criteria.
Mikkel Bates
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Financial regulators have become slightly obsessed with transparency as a tool for both increasing competition and protecting consumers. Early attempts were pretty clunky, with Simplified Prospectuses that failed to live up to their name, later replaced by Key Investor Information Documents (KIIDs) for UCITS funds, while life and pension funds have had Key Features Documents.