EIOPA’s 5th annual report on administrative sanctions and other measures under the Insurance Distribution Directive (IDD) - 2023

Sanctions are an essential tool to dissuade firms from misconduct, but, given that they are generally targeted at individual companies or individuals, other measures can also be an efficient and effective tool to address broader market failures. Conclusions regarding the effectiveness of the supervision of the IDD, therefore, should not be drawn based solely on the number of sanctions imposed in that Member State.

This report is based on Article 36(2) of the IDD, which states that NCAs shall provide EIOPA annually with aggregated information regarding all administrative sanctions and other measures imposed and that EIOPA shall publish the information in an annual report.