EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM

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2. The competent authorities shall exchange information on insurance and reinsurance intermediaries if they have been subject to a sanction referred to in Article 8(3) or a measure referred to in Article 8(4) Chapter VIII and such information is likely to lead to removal from the register of such intermediaries. The competent authorities may also exchange any relevant information at the request of an authority. 3. All persons required to receive or divulge information in connection with this Directive shall be bound by professional secrecy, in the same manner as is laid down in Article 16 of Council Directive 92/49/EEC of 18 June 1992 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (third non-life insurance Directive)(10) and Article 15 of Council Directive 92/96/EEC of 10 November 1992 on the coordination of laws, regulations and administrative provisions relating to direct life assurance and amending Directives 79/267/EEC and 90/619/EEC (third life assurance Directive)(11). Article 1012 Complaints Member States shall ensure that procedures are set up which allow customers and other interested parties, especially consumer associations, to register complaints about insurance and reinsurance intermediaries and undertakings . In all cases complaints shall receive replies. Article 1113 Out-of-court redress 2002/92/EC 2002/92/EC (adapted) new 1. Member States shall encourage ensure the setting-up of appropriate, and effective, impartial and independent complaints and redress procedures for the out-of-court settlement of disputes between insurance intermediaries and customers, and between insurance undertakings and customers, using existing bodies where appropriate. Member States shall further ensure that all insurance undertakings and insurance intermediaries participate in the procedures for the outof-court settlement of disputes where the following conditions are met: (a) the procedure results in decisions which are not binding; (b) [the running of] the limitation period for bringing the dispute before a court is suspended for the duration of the procedure for alternative dispute resolution; (c) the period of prescription of the claim is suspended for the duration of the procedure; EN 48 EN
(d) the procedure is free of charge or at moderate costs; (e) electronic means are not the only means by which the parties can gain access to the procedure and; (f) interim measures are possible in exceptional cases where the urgency of the situation so requires. 2. Member States shall encourage ensure that these bodies to cooperate in the resolution of cross-border disputes. Article 16 14 Transposition Restriction on use of intermediaries 2002/92/EC (adapted) new Member States shall ensure that insurance and reinsurance undertakings and intermediaries use the insurance and reinsurance mediation services only of registered insurance and reinsurance intermediaries and or of the persons referred to in Article 1(2) or of the persons who have fulfilled the declaration procedure referred to in Article 4 . CHAPTER VI III 2002/92/EC (adapted) INFORMATION REQUIREMENTS FOR INTERMEDIARIES AND CONDUCT OF BUSINESS RULES Article 15 General principle new 1. Member States shall require that, when carrying out insurance mediation with or for customers, an insurance intermediary or insurance undertaking acts honestly, fairly and professionally in accordance with the best interests of its customers. 2. All information, including marketing communications, addressed by the insurance intermediary or insurance undertaking to customers or potential customers shall be EN 49 EN
Page 1 and 2: EUROPEAN COMMISSION Proposal for a
Page 3 and 4: participants involved in the sellin
Page 5 and 6: Overall, the estimate of the admini
Page 7 and 8: Article 1 enlarges the scope of IMD
Page 9 and 10: intermediation activities on an anc
Page 11 and 12: Chapter VII - Additional customer p
Page 13 and 14: The proposal has implications for t
Page 15 and 16: Whereas: new (1) A number of amend
Page 17 and 18: einsurance intermediaries in the in
Page 19 and 20: 2002/92/EC recital 16 (new) (17) Ap
Page 21 and 22: 2002/92/EC recital 22 (adapted) ne
Page 23 and 24: intermediary or undertaking should
Page 25 and 26: the conduct standards applicable to
Page 27 and 28: developments in other areas of Unio
Page 29 and 30: 2002/92/EC new This Directive shal
Page 31 and 32: 2002/92/EC new 5. 'insurance inter
Page 33 and 34: (b) where the intermediary is a leg
Page 35 and 36: intermediary and who pursue the
Page 37 and 38: Member States shall ensure that the
Page 39 and 40: new (a) the name, address and any r
Page 41 and 42: 2. The competent authority of the h
Page 43 and 44: 2002/92/EC (adapted) new Home Memb
Page 45 and 46: years after the entry into force of
Page 47: 2. The authorities referred to in p
Page 51 and 52: (iii) the procedures referred to in
Page 53 and 54: eceived by any employee of theirs f
Page 55 and 56: (b) in a clear and accurate manner,
Page 57 and 58: CHAPTER VII ADDITIONAL CUSTOMER PRO
Page 59 and 60: (a) the nature of the service(s) of
Page 61 and 62: cause a disproportionate damage to
Page 63 and 64: Article 30 Reporting of breaches 1.
Page 65 and 66: shall put an end to the delegation
Page 67 and 68: new References to the repealed Dire
Page 69 and 70: transactions. The entities mentione
Page 71 and 72: The new IMD would continue to have
Page 73 and 74: new LEGISLATIVE FINANCIAL STATEMENT
Page 75 and 76: 1.4.3. Expected result(s) and impac
Page 77 and 78: 1.6 Duration and financial impact
Page 79 and 80: Fraud Office (OLAF) and shall immed
Page 81 and 82: 3.2. Estimated impact on expenditur
Page 83 and 84: 1) the content of adequate professi
Page 85 and 86: Heading of multiannual financial fr
Page 87 and 88: 3.2.3. Estimated impact on appropri
Page 89 and 90: 3.2.4. Compatibility with the curre
Page 91 and 92: Annex to the Legislative Financial
Page 93: new EN 93 EN

EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM

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