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European Insurance and Occupational Pensions Authority

Review and record keeping

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CHAPTER II

Article number:  7

1. For the purposes of Article 27 of Directive (EU) 2016/97, insurance intermediaries and insurance undertakings shall assess and periodically review, on an at least annual basis, the conflicts of interest policy established in accordance with Article 4 and take all appropriate measures to address any deficiencies.

2. Insurance intermediaries and insurance undertakings shall keep and regularly update a record of the situations in which a conflict of interest entailing a risk of damage to the interests of a customer has arisen or, in the case of an ongoing service or activity may arise.

Senior management of the insurance intermediary or insurance undertaking shall receive on a frequent basis, and at least annually, written reports on the situations referred to in the first subparagraph.

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Metadata

RULEBOOK TOPIC:  CHAPTER II - CONFLICTS OF INTEREST AND INDUCEMENTS

RULEBOOK CATEGORY:  Delegated Regulation (EU) 2017/2359 (on the requirements related to insurance-based investment products)

Last update on:  14 Jan 2021