EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM

Member States shall ensure that the competent authorities have in place appropriate
measures enabling them to monitor whether insurance and reinsurance intermediaries
continue to meet the registration requirements of this Directive at all times.
7. Member States shall ensure that their competent authorities request the following
information from insurance and reinsurance intermediaries, as a condition of
registration:
(a) to provide information to their competent authorities of the identities of
shareholders or members, whether natural or legal persons, that have a holding
in the intermediary that exceeds 10% and the amounts of those holdings;
(b) to provide information to their competent authorities of the identities of
persons who have close links with the insurance or reinsurance intermediary;
(c) to demonstrate in a satisfactory manner that the holdings or close links do not
prevent the effective exercise of the supervisory functions of the competent
authority.
8. Member States shall ensure that the competent authorities refuse registration if the
laws, regulations or administrative provisions of a third country governing one or
more natural or legal persons with which the insurance or reinsurance intermediary
has close links, or difficulties involved in the enforcement of those laws, regulations
or administrative provisions, prevent the effective exercise of their supervisory
functions.
CHAPTER III
SIMPLIFIED REGISTRATION PROCEDURE –
DECLARATION OF ACTIVITIES
Article 4
Declaration procedure for providing ancillary insurance mediation; professional
management of claims or loss assessment services
1. The registration requirements in Article 3 shall not apply to an insurance
intermediary which conducts insurance mediation on an ancillary basis, provided that
its activities meet all the following conditions:
(a) the principal professional activity of the insurance intermediary is other than
insurance mediation;
(b) the insurance intermediary only mediates certain insurance products that are
complementary to a product or service and clearly identifies them in the declaration;
(c) the insurance products concerned do not cover life assurance or liability risks, unless
that cover is incidental to the main cover.
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