Regulatory Alerts2017-09-21
Added · Updated
Commission Delegated Regulation (EU) 2017/2359 supplementing Directive (EU) 2016/97 on information requirements and conduct of business rules for insurance-based investment products distribution
The European Commission adopted Delegated Regulation (EU) 2017/2359 to supplement Directive (EU) 2016/97 by establishing detailed information requirements and conduct of business rules for the distribution of insurance-based investment products. The regulation mandates that insurance intermediaries and undertakings implement written conflicts of interest policies, assess inducements for detrimental impacts on service quality, and conduct suitability or appropriateness assessments based on specific criteria. It further defines the conditions under which products with maturity guarantees may be classified as non-complex and requires periodic reviews of conflicts of interest policies.