MiFID_II_EN

14 In order to ensure that financial products are offered and recom- mended to compatible clients, financial institutions will have to adjust their procedures. Although most of the financial institutions in Belgium have already been doing so on their own initiative, the MiFID II rules require them to: | | determine the actual target audience for each product they offer (e.g. retail investors with a three-year investment horizon). The characteristics of the products they offer must be compatible with the identified target audience; | | ensure that products remain compatible with the needs, charac- teristics and objectives of the target audience at all stages of the product’s life-cycle. If a financial institution finds that a product no longer matches the target audience, it must take measures to ensure that the target audience is modified and the products are no longer sold to the original target audience. The requirements on product governance are strengthened. What is in it for me as a customer?