Product assessment before launch
Any proposal to start offering a new product is commented upon at several levels.
Any proposal to start offering a new product is commented upon at several levels; opinions are issued by the Risk Department, Compliance Department and the Legal Department. Participation of those entities in the opining process allows the Bank to assess whether:
- the identified material risks and their mitigation methods arising in connection with the launch or change of a product/service are permissible,
- the proposed product/service complies with the requirements concerning: provision of relevant information to potential clients before the agreement is signed, fulfillment of information obligations during the provision of the financial service, identification of potential conflicts of interest in order to take prior measures to prevent their occurrence, reliability and completeness of information provided,
- the proposed product/service complies with the applicable law and assessment of legal risks.