General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
September 25, 2017

EIOPA launched a survey to gather data from stakeholders for work on developing questions and answers (Q&A) on the insurance distribution activities by insurance distributors, focusing on issues of interpretation or application of the Insurance Distribution Directive (IDD) and its implementing measures. The Q&A will have no binding force in law and will not be subject to a "comply or explain" process. However, their application will be rigorously scrutinized and challenged by EIOPA and national competent authorities, given their practical significance to achieve a level playing field.

EIOPA has already received some questions from individual stakeholders on the IDD and its implementing measures; it is very likely that issues regarding the consistent application of IDD and the need for co-ordination between national competent authorities will continue to emerge, before and after IDD is transposed into national laws. To facilitate its preparatory work, EIOPA would like to collect questions from external stakeholders to build up a suitable evidence base for its work. The intention is to gather and group questions and run these through a filtering process, at the end of which the Q&A may be produced and published. Therefore, there is no guarantee each submitted question will receive a published answer, as questions submitted will first need to be carefully analyzed and assessed by EIOPA and national competent authorities. EIOPA invites stakeholders to participate in this survey and to comment on the questions raised by close of business on October 11, 2017. EIOPA's work on gathering questions for its Q&A work will be an iterative process. 

IDD (EU Directive 2016/97) came into force on February 23, 2016 and must be implemented into national laws by February 23, 2018. To facilitate the implementation of IDD, EC adopted implementing measures in the form of two draft Delegated Regulations on September 21, 2017. The two Delegated Regulations cover product oversight and governance requirements for insurance undertakings and insurance distributors and information requirements and conduct of business rules applicable to the distribution of insurance-based investment products.


Related Links

Survey Notification

Questionnaire on IDD

IDD and Delegated Regulations

Keywords: Europe, EU, Insurance, IDD, Q&A, Insurance Based Investment Products, Survey, EIOPA

Related Insights

FSB Report Examines Financial Stability Implications of Fintech

FSB published a report that assesses fintech-related market developments and their potential implications for financial stability.

February 14, 2019 WebPage Regulatory News

US Agencies Amend Regulatory Capital Rule to Allow Phase-In for CECL

US Agencies (FDIC, FED, and OCC) adopted the final rule to address changes to credit loss accounting under the U.S. generally accepted accounting principles; this includes banking organizations’ implementation of the current expected credit losses (CECL) methodology.

February 14, 2019 WebPage Regulatory News

OCC Consults on Company-Run Stress Test Requirements for Banks

OCC proposed amendments to its company-run stress testing requirements for national banks and Federal savings associations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.

February 12, 2019 WebPage Regulatory News

CFTC Extends Comment Periods for Trade Execution Requirement Proposals

CFTC announced that it is extending comment period for the proposed amendments related to the regulations on swap execution facilities (SEF) and trade execution requirement.

February 12, 2019 WebPage Regulatory News

OCC Proposes to Renew Information Collection Under Stress Test Rule

OCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019.

February 11, 2019 WebPage Regulatory News

OSFI Consults on NSFR Disclosure Requirements for D-SIBs

OSFI proposed the draft guideline on the net stable funding ratio (NSFR) disclosure requirements for domestic systemically important banks (D-SIBs).

February 11, 2019 WebPage Regulatory News

EC Amends Its Regulation to Clarify Impairment Requirements for IFRS 9

EC published the EU Regulation 2019/237 that amends Regulation (EC) No 1126/2008 adopting certain international accounting standards, in accordance with Regulation (EC) No 1606/2002 regarding International Accounting Standard (IAS) 28 on Investments in Associates and Joint Ventures.

February 11, 2019 WebPage Regulatory News

FSB Chair Randal Quarles Speaks About the Upcoming Work of FSB

While speaking at the BIS Special Governors Meeting in Hong Kong, Randal K. Quarles, the Chair of FSB and Vice Chair of FED, discussed his views on how the work of FSB must evolve and the key principles that, he believes, should inform that work.

February 10, 2019 WebPage Regulatory News

OSFI Proposes to Amend the Liquidity Adequacy Requirements for Banks

OSFI proposed revisions to the Liquidity Adequacy Requirements (LAR) Guideline for banks. OSFI published the proposed drafts (with proposed changes highlighted in yellow) of Chapters 1,2, 4, and 5 of the LAR guideline.

February 08, 2019 WebPage Regulatory News

HKMA Publishes FAQs on Local Implementation of IRRBB Framework

HKMA published the frequently asked questions (FAQs) related to the local implementation of the interest rate risk in the banking book (IRRBB).

February 08, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2593