10th DECEMBER 2015 // Renaissance Hotel, BRUSSELS (BE)
Vania Franceschelli Member of Fecif Board of Directors Foreign Affairs, Anasf
IDD and MiFID II. Beloved sisters or competing friends?
Time has come. On 19 March the amendment postponing the application date of directive 2016/97 (Insurance Distribution Directive - IDD) has been published in the Official Journal of the European Union. By 1 July Member States shall thus adopt and publish all the laws, regulations and administrative provisions necessary to comply with the directive. National measures shall apply from 1 October at the latest.
Given the very short period of time left, national institutions and stakeholders are working on the draft measures for the transposition of the IDD. This is also the case in Italy: a draft decree amending the Insurance Code of 2005 has recently been presented to Parliament.
One of the main issues at stake is the achievement of a level playing field between the insurance and financial sectors. This is particularly true for insurance-based investment products (IBIPs), which are often made available to customers as potential alternatives or substitutes to financial instruments regulated under MiFID II. With regard to IBIPs, the need to ensure consistent investor protection and avoid the risk of regulatory arbitrage has been achieved by providing for specific IDD requirements, in addition to the...
The European Federation of Financial Advisers and Financial Intermediaries (FECIF) was chartered in June 1999 for the defence and promotion of the role of financial advisers and intermediaries in Europe.
FECIF, the only body representing European financial advisers and intermediaries, it is based in Brussels, the heart of Europe.
Stay informed about our activities. Subscribe to our monthly FECIF Newsletter: