Product Governance

On 3rd January 2018, the new European legislation, the Markets in Financial Instruments Directive and the Markets in Financial Instruments Regulation (collectively, “MiFID II”) took effect across all European Union (EU) member states, including Cyprus.

Investor Protection - Product Governance & Target Market Information

Pursuant to MiFID II, Bank of Cyprus Public Company Limited (“Bank of Cyprus”, the “Bank”, “us”, “we” and “our”, as appropriate) has an obligation to comply with product governance requirements, which include the implementation of target market assessment for financial instruments which the Bank creates, develops, issues and/or designs (as a manufacturer) and financial instruments which the Bank offers or sells (as a distributor) to you (the “Client”, “yourself” and “your”, as appropriate).

The rules under product governance may be applied in a proportionate manner, depending on the complexity of the product and the degree to which publicly available information can be obtained, taking into account the nature of the instrument, the investment service and the target market.

According to the above, clients under the execution-only regime and clients for whom the Bank has not collected information to perform a thorough analysis of their compatibility with the target market of a financial instrument, should refer to the Bank’s website at for more information on the target market assessment of various asset class categories to evaluate themselves if they fall within the said target market.

Please see below related examples.

A. Target Market Assessment Examples