{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2023-03-23","held_since":"2023-03-23","gaps":[],"covered":["MiFID II L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifid-ii/articles/16a","url":"https://www.headlesslaw.com/mifid-ii/articles/16a","title":"Article 16a — Exemptions from product governance requirements","family":"l1_generated","work_id":"mifid2","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"Consolidated version of 6 June 2026","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606","valid_from":"2023-03-23","valid_until":null,"revision":1,"content_id":"8bd92f87376b97aa","change_date":null,"nearest_versions":["2023-03-23"],"first_text_date":"2014-05-15","correction_applies":false,"versions":["2023-03-23"],"version_url":"https://www.headlesslaw.com/mifid-ii/articles/16a/versions/2023-03-23","revision_url":"https://www.headlesslaw.com/mifid-ii/articles/16a/versions/2023-03-23/rev/8bd92f87376b97aa","versions_url":"https://www.headlesslaw.com/mifid-ii/articles/16a/versions","relations_url":"https://www.headlesslaw.com/mifid-ii/articles/16a/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifid-ii/articles/16a.md","body_sha256":"b9f091aeeccb92a7f687facd43549dc5880499363f98eea58b893b86da12966d"},"units":[{"locator":"mifid2/art/16a","kind":"article","status":"in_force","label":null,"heading":"Exemptions from product governance requirements","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"mifid2/art/16a/subpara/1","kind":"subparagraph","status":"in_force","label":null,"heading":null,"text":"An investment firm shall be exempted from the requirements set out in the second to fifth subparagraphs of Article 16(3) and in Article 24(2), where the investment service it provides relates to bonds with no other embedded derivative than a make-whole clause or where the financial instruments are marketed or distributed exclusively to eligible counterparties.","marks":[],"revision":1,"text_hash":"2f2921efdda7c74314cdfd9652f67b7e34cfb5270d81aeb9dbad48d7de5e8473","reason":null}],"markdown":"---\ntitle: \"Article 16a — Exemptions from product governance requirements\"\ntype: regulation\nlegal_status: in_force\nsource: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606\"\nsource_retrieved: 2026-09-28\nshortTitle: \"Article 16a — Exemptions from product governance requirements\"\ninstrument_type: level1_directive\nauthority: Commission\nbinding: true\nbinding_character: binding\nmica_level2: false\nlegal_basis: \"Directive 2014/65/EU\"\ninstrument: mifid2\ncelex: \"32014L0065\"\nregulation: MiFID II\nregulation-full: \"Directive 2014/65/EU\"\narticle: 16a\nstatus: in_force\nobject_id: eu.mifid2.legal_text.article.16a\ntext_version: \"Consolidated version of 6 June 2026\"\nsource_url: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\n---\n\n*In force · Consolidated version of 6 June 2026 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606)*\n\nAn [investment firm](https://www.headlesslaw.com/definitions/mifid-ii/investment-firm) shall be exempted from the requirements set out in the second to fifth subparagraphs of [Article 16(3)](16.md) and in [Article 24(2)](24.md), where the investment service it provides relates to bonds with no other embedded derivative than a make-whole clause or where the financial instruments are marketed or distributed exclusively to eligible counterparties.\n\n***\n\n[Title II — Authorisation and operating conditions for investment firms](../titles/ii.md) · [← Article 16](16.md) · [Article 17 →](17.md)\n"}