153. Competent authorities should verify that, in line with the EBA Guidelines on product oversight …

Competent authorities should verify that, in line with the EBA Guidelines on product oversight and governance arrangements for retail banking products⁵⁶ , the outline of the product governance policy ensures that the applicant credit institution, acting as manufacturer and/or distributor, will implement a sound product governance policy providing for internal processes, functions and strategies (i) to ensure that the interests, objectives and characteristics of consumers are taken into account, (ii) to avoid potential consumer detriment and (iii) to minimise conflicts of interest.

⁵⁶ EBA/GL/2015/18 available at https://www.eba.europa.eu/guidelines-on-product-oversight-and-governance-arrangements-for-retail-banking-products

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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