Page 13 - BIPAR Panorama EN 2019

CONSUMERS ARE WELL PROTECTED

The financial services sector, including the insurance and financial intermediation
activities, is highly regulated and supervised.
Over 20 EU legal instruments apply to the intermediation activity. On top of that, there
are many other national rules that apply, such as taxation law, company law, rules on
social security, etc.
The combination of sector-specific rules and general law rules creates an optimal
framework that ensures maximum consumer protection.

Overview of topics under discussion, revision, implementation in Europe, with a potential impact on intermediation

Contract Public
UCITs GDPR
law procurement
Insurance • E-Commerce
Guarantee Directive
Schemes – • Anti-Money
Investor MiFID II IDD • Laundering
Collective
Compensation redress
Schemes Prudential • Distance selling
regime for Insurance FinTech, Sustainable
investment intermediaries Automated finance
firms advice
Professional Solvency Pensions: Artificial
qualifications II PEPPs, Intelligence
IORP (AI)
Credit
Gender agreements
equality PRIIPs relating to Cyber risk
residential
VAT, + New property
regulatory
ADR / (FAT), instruments/ Brexit
ODR FTT, IPT, procedures/
FATCA ESAs

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