Regulatory Alerts2024-06-28
Recommendation 2024-R-01 of 28 June 2024 on the implementation of certain provisions from Directive (EU) 2016/97 on the distribution of insurance
The French Prudential Control and Resolution Authority (ACPR) issues Recommendation 2024-R-01 to enforce good practices regarding the governance, surveillance, remuneration, and conflict of interest management for insurance product designers and distributors. The document mandates specific procedures for defining target markets, assessing significant product adaptations, and ensuring cost-performance ratios for unit-linked life insurance products. It requires designers to implement objective criteria for product approval, segmentation, and distributor selection to safeguard client interests and prevent mis-selling.
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