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

More documents

Recommendations

Info

3.3. Estimated impact on revenue – Proposal/initiative has no financial impact on revenue. – Proposal/initiative has the following financial impact: – on own resources – on miscellaneous revenue EN 90 EN
Annex to the Legislative Financial Statement for a proposal for Directive of the European Parliament and of the Council on Insurance Intermediaries and the Sale of Insurance Products repealing the Directive 2002/92/EC on insurance mediation (IMD) The costs related to tasks to be carried out by EIOPA have been estimated for staff expenditure (Title 1), in conformity with the cost classification in the EIOPA draft budget for 2012 submitted to the Commission. The proposal of the Commission includes provisions for EIOPA to develop and draft 5 delegated acts and 1 implementing technical standard. In addition, EIOPA will also have to develop 2 guidelines, mainly to ensure cooperation between authorities and 3 reports to monitor and evaluate the effectiveness of the Directive, will hold the register of intermediaries who intend to go cross-border and will have a number of other permanent tasks. It has been assumed that the Directive will enter into force in late 2013, and therefore the additional EIOPA resources are required from 2014. Additional staff has been estimated for the technical standards, guidelines and reports to be produced by EIOPA; and for other permanent tasks. As regards the nature of positions, the successful and timely delivery of new technical standards will require, in particular, additional policy, legal and impact assessment officers. The following assumptions were applied to assess the impact on number of FTEs required to develop delegated acts, technical standards, guidelines and reports: 1. One policy officer drafts on average 1,5 delegated acts/technical standards a year and the same policy officer can draft the related guidelines or reports. Their jobs will also include tasks related to gathering and publishing information and permanents tasks (see above). This implies that 4 policy officers are needed; 2. One impact assessment officer is needed for the technical standards above; 3. One legal officer is needed for the technical standards and a guideline above. This means an additional 6 FTEs are needed from 2014. It was assumed that this increase in FTEs will be maintained in 2015 and 2016 since the standards will most likely be finalised only in 2015 and amendments may be required in 2016. Other assumptions: 1. Based on the distribution of FTEs in 2012 draft budget, the additional 6 FTEs are assumed to be comprised of 4 temporary agents (74%), 1 seconded national expert (16%) and 1 contractual agent (10%); 2. Average annual salary costs for different categories of personnel are based on DG BUDG guidance; 3. Salary weighting coefficient for Frankfurt of 0,948; 4. Training costs assumed at €1,000 per FTE per year; 5. Mission costs of €10,000, estimated based on 2012 draft budget for missions per headcount; EN 91 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 and 48: 2. The authorities referred to in p
Page 49 and 50: (d) the procedure is free of charge
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: 3.2.4. Compatibility with the curre
Page 93: new EN 93 EN
show all

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

Create successful ePaper yourself

Delete template?

Save as template?