Please send the completed template, in Word Format, to The ESAs are charged with producing various technical regulatory standards to underpin the Disclosure Regulation. insurance and services and payment insurance. IDD delegated acts consultation FG2A_france_response 1. 29 (4)] Technical advice on delegated acts under Solvency II . IDD Delegated Acts Product Oversight and Governance (POG) –all products Conflicts of interest –Insurance-based Investment Products Inducements/Commission –Insurance-based Investment Products Customer appropriateness –Insurance-based Investment Products Product Oversight and Governance (POG) –Applies to both manufacturersand distributors Public Conflict measures expedited into ‘IMD 1.5’ by MiFID II. The numbering of the questions refers to the Consultation Paper on Technical Advice on deleting the word Public in the column to the right and by inserting the word See our Privacy Policy and User Agreement for details. Please indicate if your comments on this CP should be treated as confidential, by If you have no comment on a  Our IT tool does not allow processing of comments which do not refer to the Our IT tool does not allow processing of any other formats. Insurance Distribution Directive(link is external) The IDD enables the European Commission to make secondary legislation. The way in which "adverse impacts" are to be incorporated into the amendments to the MiFID II and IDD delegated acts, for example, has been the subject of much debate with the industry. Insurance products distributed by our members The Solvency II section covers the first three mentioned issues. As the delegated acts were formulated as guidelines to supplement MiFID, the delegated acts for the IDD should also be issued as Directive which needs to be implemented nationally. Directive (EU) 2016/97 empowers the Commission to adopt delegated acts to further specify the product oversight and governance requirements set out in Article 25 of that directive. As regards MiFID II, the following draft delegated acts are of relevance to the technical advice on the delegated acts on IDD and have been adopted by the Commission: • Draft Commission Delegated Directive supplementing Directive 2014/65/EU with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or … 22.Sustainability risks, in the same way as legal or emerging risks, tend to materialise through existing risk categories such as credit risk or property risk. numbering, your comment cannot be processed by our IT tool Deadline Register of delegated and implementing acts This register gives you access to the various steps in the preparation, adoption, scrutiny and publication of delegated acts, as well as to the planning, adoption and publication of implementing regulations. This project will run in parallel to transposition into national law. While the Insurance Distribution … The relevant empowerments concern the rules on conflicts of interest, on inducements and on the assessment of suitability and appropriateness. 1.5 We need to update our Handbook to reflect the requirements of the IDD delegated acts. The IDD section covers conflict of interests (related to … EIOPA does not consider sustainability risks to be a sub-category of emerging risks. possible delegated acts concerning the Insurance Distribution Directive These can be accessed on the European Commission website: 1. The IDD empowers the Commission to adopt Delegated Acts to specify various regulatory requirements of the IDD on a variety of issues including Product Oversight and Governance Arrangements, Management of Conflicts of Interest, and Inducements. paragraph or a cell, keep the row empty. Technical advice on delegated acts under Solvency II; Previous Next. Conflicts of interest . What would you estimate as the costs and benefits of the possible changes to the delegated acts under IDD outlined in this Consultation? You can change your ad preferences anytime. FG2A France (Fédération des Garanties et Assurances Affinitaires): Response of the consultation paper CP-16-2016 on Technical Advice on possible delegated acts concerning the Insurance Distribution Directive. The IDD has also required more detailed provisions to the Act on the Financial Supervisory Authority and other laws (Acts 235–237/2018 and 239–246/2018. 5 The exact costs of the possible changes are difficult to anticipate. Recital 39: “The expanding range of activities that many insurance intermediaries and undertakings carry on simultaneously has increased potential for conflicts of interest between those different activities and the interests of their customers.