Regulatory Alerts2026-05-06
Added · Updated
CNPF Proposes a New Framework for Insurance Distribution: Greater Transparency, Clear Rules for Intermediaries, and Enhanced Client Protection
The National Commission for Financial Markets (CNPF) has drafted a new regulatory framework to modernize Romania’s insurance distribution sector by aligning national legislation with EU Directive 2016/97. The proposal mandates uniform professional competency standards, enhanced pre-contractual transparency, and mandatory suitability assessments for all distributors, with additional risk-profiling requirements specifically for insurance-based investment products. Furthermore, it clarifies the roles of diverse distribution channels, establishes proportional product approval and target market identification processes for insurers, and introduces cross-border service rules to harmonize operations with the EU internal market.
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