Conflicts of interest
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Extract from the European Commission's request for advice "EIOPA and ESMA are invited to provide technical advices on corporate governance mechanisms within the organisation of the financial market participants and investment and insurance advisors, including, where relevant, but not limited to: - measures and policies specifically considering types of conflict of interest that might arise in relation to sustainability considerations and the steps to identify, prevent, manage and disclose them." |
Analysis
90. Conflicts of interest are explicitly addressed as part of the organisational requirements in IDD. Insurance undertakings and insurance intermediaries have to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps designed to prevent conflicts of interest from adversely affecting the interests of its customers.
91. Within its mandate to EIOPA, the Commission clarified that its objective i
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