Insurance EuropeInsurance Europe
MIFID: IMD 2 best place to regulate insurance investment products

A decision was reached by the European Parliament, Council and Commission in a trialogue meeting on 14 January to amend the Insurance Mediation Directive (IMD 1) through the revised Markets in Financial Instruments Directive (MiFID 2).

“Insurance Europe believes that the appropriate place to regulate conduct of business and sales rules for insurance investment products is the revised IMD (IMD 2), as originally proposed by the Commission,” said Michaela Koller, Insurance Europe’s director general. In-depth discussions in the European Parliament on IMD 2 have sought to improve regulation in the retail insurance market for the benefit of consumers by regulating selling practices for all insurance products, including insurance investment products.

Published 21 January 2014