European Parliament and Committee on Economic and Monetary Affairs and Committee on the Internal Market and Consumer Protection and Committee on Legal Affairs 26 February 2014, Amendments adopted by the European Parliament on 26 February 2014 on the proposal for a directive of the European Parliament and of the Council on the insurance mediation (recast) (COM(2012)0360 — C7-0180/2012 — 2012/0175(COD))

Also known as

This document constitutes amendments adopted by the European Parliament on 26 February 2014 to a proposed directive recasting Directive 2002/92/EC on insurance mediation, with the legal bases of Articles 53(1) and 62 TFEU, extending the scope of regulation to all insurance product distribution channels—including direct sales by insurance undertakings—and establishing harmonised registration, professional competence, conduct of business, and information disclosure requirements applicable to insurance intermediaries and insurance undertakings across the Union. Key provisions introduce enhanced consumer protection standards for insurance-based investment products (aligned with MiFID), mandate registration with home Member State competent authorities and cross-border notification procedures, and require effective, proportionate, and dissuasive administrative penalties for breaches. The directive operates as a minimum harmonisation instrument, permitting Member States to maintain or adopt stricter national provisions provided these comply with Union law and do not impose disproportionate administrative burdens.AI