Five-year transition ‘ample’ for remuneration disclosure
The European Commission has proposed mandatory remuneration disclosure for intermediaries because previous "on request" disclosure was not respected, a leading expert told The Insurance Insider.
The commission's latest draft rules on obligatory transparency after a five-year transitional period, unveiled in last week's revised Insurance Mediation Directive (IMD II), have met with indignation from various brokerage and intermediary associations.
However, Henri Debruyne, the chairman of thinktank Monitoring European Distribution of Insurance (MEDI), said five years was ample time to adopt the...
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