This Directive is addressed to the Member States.
Done at Strasbourg, 20 January 2016.
For the European Parliament
The President
M. SCHULZ
For the Council
The President
A.G. KOENDERS
(1) OJ C 44, 15.2.2013, p. 95.
(2) Position of the European Parliament of 24 November 2015 (not yet published in the Official Journal) and decision of the Council of 14 December 2015.
(3) Directive 2002/92/EC of the European Parliament and of the Council of 9 December 2002 on insurance mediation (OJ L 9, 15.1.2003, p. 3).
(4) Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).
(5) Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48).
(6) Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (OJ L 352, 9.12.2014, p. 1).
(7) Directive 2000/31/EC of the European Parliament and of the Council of 8 June 2000 on certain legal aspects of information society services, in particular electronic commerce, in the Internal Market (‘Directive on electronic commerce’) (OJ L 178, 17.7.2000, p. 1).
(8) Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data (OJ L 281, 23.11.1995, p. 31).
(9) Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the EU institutions and bodies and on the free movement of such data (OJ L 8, 12.1.2001, p. 1).
(10) Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision (OJ L 235, 23.9.2003, p. 10).
(11) OJ C 100, 6.4.2013, p. 12.
(12) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
(13) Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1).
(14) Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EC, 98/27/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (‘Unfair Commercial Practices Directive’) (OJ L 149, 11.6.2005, p. 22).
(15) Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (OJ L 60, 28.2.2014, p. 34).
(16) Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (OJ L 257, 28.8.2014, p. 214).
(17) Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).
ANNEX I
MINIMUM PROFESSIONAL KNOWLEDGE AND COMPETENCE REQUIREMENTS
(as referred to in Article 10(2)
I
Non-life risks classified under classes 1 to 18 in Part A of Annex I to Directive 2009/138/EC:
(a)
minimum necessary knowledge of terms and conditions of policies offered, including ancillary risks if covered by such policies;
(b)
minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law, relevant tax law and relevant social and labour law;
(c)
minimum necessary knowledge of claims handling;
(d)
minimum necessary knowledge of complaints handling;
(e)
minimum necessary knowledge of assessing customer needs;
(f)
minimum necessary knowledge of the insurance market;
(g)
minimum necessary knowledge of business ethics standards; and
(h)
minimum necessary financial competency.
II
Insurance-based investment products:
(a)
minimum necessary knowledge of insurance-based investment products, including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed benefits;
(b)
minimum necessary knowledge of advantages and disadvantages of different investment options for policyholders;
(c)
minimum necessary knowledge of financial risks borne by policyholders;
(d)
minimum necessary knowledge of policies covering life risks and other savings products;
(e)
minimum necessary knowledge of organisation and benefits guaranteed by the pension system;
(f)
minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law and relevant tax law;
(g)
minimum necessary knowledge of the insurance market and of the saving products market;
(h)
minimum necessary knowledge of complaints handling;
(i)
minimum necessary knowledge of assessing customer needs;
(j)
conflicts of interest management;
(k)
minimum necessary knowledge of business ethics standards; and
(l)
minimum necessary financial competency.
III
Life risks classified in Annex II to Directive 2009/138/EC:
(a)
minimum necessary knowledge of policies including terms, conditions, the guaranteed benefits and, where applicable, ancillary risks;
(b)
minimum necessary knowledge of organisation and benefits guaranteed by the pension system of the relevant Member State;
(c)
knowledge of applicable insurance contract law, consumer protection law, data protection law, anti-money laundering law and, where applicable, relevant tax law and relevant social and labour law;
(d)
minimum necessary knowledge of the insurance and other relevant financial services markets;
(e)
minimum necessary knowledge of complaints handling;
(f)
minimum necessary knowledge of assessing consumer needs;
(g)
conflicts of interest management;
(h)
minimum necessary knowledge of business ethics standards; and
(i)
minimum necessary financial competency.
ANNEX II
PART A
Repealed Directive with list of its successive amendments
Directive 2002/92/EC of the European Parliament and of the Council (OJ L 9, 15.1.2003, p. 3).
Directive 2014/65/EU of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 349).
Directive (EU) 2016/97 of the European Parliament and of the Council (OJ L 26, 2.2.2016, p. 19).
PART B
Time limits for transposition into national law referred to in Article 44
Directive
Time limit for transposition of amending Directives
2014/65/EU
(EU) 2016/97
3.7.2016
22.2.2016 (as regards amendment of Directive 2002/92/EC in accordance with Article 43 of this Directive)
23.2.2018 (as regards transposition of this Directive in accordance with Article 42)
ANNEX III
Correlation table
This Directive
Article 1(1) and (2)
Article 1(3) and (4)
Article 2 point (1)
Article 2(1) point (6)
Article 2 point (2)
Article 2(1) point (7)
Article 2 point (3)
Article 2(1) point (1) and Article 2(2)
Article 2 point (4)
Article 2(1) point (2) and Article 2(2)
Article 2 point (5)
Article 2(1) point (3)
Article 2 point (6)
Article 2(1) point (5)
Article 2 point (7)
—
Article 2 point (8)
Article 2(1) point (16)
Article 2 point (9)
Article 2(1) point (10)
Article 2 point (10)
Article 2(1) point (11)
Article 2 point (11)
—
Article 2 point (12)
Article 2(1) point (18)
Article 2 point (13)
Article 2(1) point (17)
Article 3(2) and (3)
—
—
Article 10(1) and (2)
—
—
Articles 4 and 6
—
Articles 5, 7, 31 to 36
Article 12(1) point (a)
Article 18 points (a)(i), (b)(i)
Article 12(1) point (b)
Article 18 point (a)(iv)
Article 12(1) point (c)
Article 19(1) point (a)
Article 12(1) point (d)
Article 19(1) point (b)
Article 12(1) point (e)
Articles 18 points (a)(iii), (b)(iii) and 19(1) point (c)
Article 22(2) and (4)
—
—
—
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