EIOPA consults on conflicts in PRIIPs sales: EIOPA is consulting on conflicts of interest in direct and intermediated sales of insurance-based Packaged Retail Investment and Insurance Products (PRIIPs). EIOPA needs to produce technical advice for the European Commission within seven months of the entry into force of the revised Markets in Financial Instruments Directive (MiFID 2), which has driven the amendments to the Insurance Mediation Directive (IMD 2). The paper focuses on these new provisions. It looks at:
- criteria for identifying types of conflict of interest that might harm consumers; and
- steps for identifying, preventing, managing and disclosing conflicts of interest.
It looks closely at proportionality and the handling of third party payments. It asks for comments by 22 July. (Source: EIOPA Consults on Conflicts in PRIIPs Sales)