EIOPA delivers advice on insurance-based investment products
Monday, 07 06 2015, Category: Insurance and Reinsurance, Country: Europe
The European Insurance and Occupational Pensions Authority (EIOPA) published today its technical advice to the European Commission on product intervention powers regarding insurance-based investment products.
The PRIIPs Regulation foresees that in case of a significant investor protection concern or a threat to the orderly functioning of financial markets, national supervisors and, in some cases, EIOPA, have the power to prohibit or restrict the marketing or distribution of certain insurance-based investment products or a type of financial activity or practice of a (re)insurer. In its technical advice, EIOPA specifies the criteria and factors that should be taken into account in order to determine the situations in which supervisory intervention is required.