Consultation on Application Paper on Approaches to Supervising the Conduct of Intermediaries

Public Consultation

Comment due by 1 August 2016 at 24:00 Basel time (Central European Summer Time)

Thank you for your interest in the Application Paper on Approaches to Supervising the Conduct of Intermediaries.

This Application Paper discusses approaches that IAIS Member organisations may wish to consider when developing or revising their supervisory regimes for the supervision of intermediaries and implementing Insurance Core Principles (ICPs) 18 (Intermediaries) and the relevant aspects of ICP 19 (Conduct of business) in their supervisory frameworks.

As an Application Paper, this paper represents IAIS supporting material and as such does not set requirements. It provides additional material related to ICPs, such as examples that may help practical application of IAIS supervisory material. Building on a 2015 survey of IAIS Members on their approaches to the supervision of intermediaries, it discusses different types of intermediaries and the diversity of intermediation, supervision of intermediaries in the context of a broader supervisory framework, and supervisory approaches that may promote good conduct of business by intermediaries with reference to ICPs 18 and 19.

The IAIS is now seeking feedback on this draft Application Paper through public consultation. Feedback on this consultative document is invited by 1 August 2016 at 24:00 Basel time. Only comments submitted via the Tool will be considered. Feedback received by this deadline will enable the IAIS to further develop the paper for finalisation. After this deadline, the Consultation Tool will be closed and it will no longer be possible to submit any further comments. After the public consultation is closed, a public discussion of the comments and proposed resolutions will be organised in October (the schedule of the public discussion session is to be confirmed).

How to provide feedback: Please use the Consultation Tool available on the consultation page of the IAIS website to provide feedback. Please note:

1)A commenter can provide feedback on the paper as a whole and then each paragraph in the draft.

2)All comments will be published on the IAIS public website unless an option in the Tool to keep comments confidential is chosen.

3)Formatting, such as bullet points, may not be kept when you copy and paste your feedback into the Tool from other software, such as Microsoft Word.

4)Your comments should be specific and concise. Please clearly state your comment and describe the specific issue your comment is addressing.

5)IAIS Members can use the consultation page on the Members-only website to avoid entering profile information.