EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM
EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM
EUROPEAN COMMISSION Brussels, XXX COM(2012) 360 ... - BVVM
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shall put an end to the delegation of the power specified in that decision. It shall take<br />
effect the day following the publication of the decision in the Official Journal of the<br />
European Union or at a later date specified therein. It shall not affect the validity of<br />
any delegated acts already in force.<br />
4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to<br />
the European Parliament and to the Council.<br />
5. A delegated act adopted pursuant to Articles 8, 17, 23, 24 and 25 shall enter into<br />
force only if no objection has been expressed either by the European Parliament or<br />
the Council within a period of 2 months of notification of that act to the European<br />
Parliament and the Council or if, before the expiry of that period, the European<br />
Parliament and the Council have both informed the Commission that they will not<br />
object. That period shall be extended by 2 months at the initiative of the European<br />
Parliament or the Council.<br />
Article 35<br />
Review and evaluation<br />
1. Five years after the entry into force of this Directive, the Commission shall review<br />
this Directive. The review shall include a general survey of the practical application<br />
of rules laid down in this Directive taking due account of developments in the retail<br />
investment products markets as well as experiences acquired in practical application<br />
of this Directive and Regulation on key information documents for investment<br />
products and [MIFID II]. The review shall reflect on a possible application of the<br />
provisions of this Directive to products falling under the scope of Directive<br />
2003/41/EC. This review shall also include a specific analysis of the impact of<br />
Article 17(2), taking into account the situation of competition on the market of<br />
intermediation services for contracts other than contracts in any of the classes<br />
specified in Annex I of Directive 2002/83/EC and the impact of the obligations<br />
referred to in Article 17(2) on insurance intermediaries which are small and medium<br />
sized enterprises.<br />
2. After consulting the Joint Committee of European Supervisory Authorities, the<br />
Commission shall submit a first report to the European Parliament and the Council.<br />
3. By X X 20XX [four years after the entry into force of the Directive], and at least on a<br />
two-year basis thereafter, EIOPA shall prepare a second report on the application of<br />
this Directive. EIOPA shall consult ESMA before making public its report.<br />
4. In a third report to be prepared by X X 20XX [two years after the entry into force of<br />
the Directive], EIOPA shall undertake an evaluation of the structure of insurance<br />
intermediaries' markets.<br />
5. A report to be prepared by EIOPA by X X 20XX [four years after the entry into force<br />
of the Directive] as referred to in paragraph 3 shall examine whether the competent<br />
authorities referred to in Article 10(1) are sufficiently empowered and have adequate<br />
resources to carry out their tasks.<br />
6. The report referred to in paragraph 3 shall examine at least the following issues:<br />
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