EIOPA Work Programme 2013 - EIOPA - Europa

4.1 Consumer Protection
In accordance with its mandate, EIOPA will further develop and pursue its
“leading role” in promoting transparency, simplicity and fairness in the market
for consumer financial products and services across the internal market (Article 9
of the EIOPA Regulation). This will be carried out by developing more
standardised and comparable information about the risks and costs of products,
relevant regulatory requirements and complaints handling procedures. In respect
of cross sectoral issues, EIOPA’s work on consumer protection and financial
innovation will be undertaken jointly with the other two ESAs under the auspices
of the Joint Committee’s Sub Committee on Consumer Protection and Financial
Innovation to ensure cross sectoral consistency and avoid duplication of work.
In 2013, EIOPA’s Board of Supervisors, Committee on Consumer Protection and
Financial Innovation (CCPFI) and its Consumer Protection and Financial
Innovation Unit will pro actively continue to work together on issues such as:
• Continued collection, analysis and reporting of consumer trends with a focus
on significant evolutions related to products or to the use of new information
technologies, which complements the work related to monitoring and
assessing of new or innovative financial activities;
• Further review and co ordination of financial literacy and educational
initiatives by competent authorities in close co operation with the European
Commission and the OECD, within the scope of the Joint Committee where
possible;
• Additional work on complaints handling procedures within financial
institutions e.g. following on from the work carried out on complaints
handling in insurance undertakings, the potential issuance of similar
guidelines applicable to Insurance Intermediaries. A common cross sectoral
approach to complaints handling may also be considered under the scope of
the Joint Committee; and
• On going work under the umbrella of the revised Insurance Mediation
Directive (“IMD II”) such as development of industry training standards,
enhancement of transparency of national general good provisions and
ensuring convergence of national supervisory practice with regards to
distance sales of insurance products (e.g. via the Internet). Work will also be
launched under the IMD II on the drafting of technical standards.
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© EIOPA 2012