IDD Implementation in Luxembourg

The purpose of this training is to present the Insurance Distribution Directive (IDD) as it will be implemented in Luxembourg law.

At the end of the training, the participant will be able to:

• Understand and apply the professional obligations defined by the IDD regulations as implemented in Luxembourg law
• Identify the main impacts of IDD regulation in its application in Luxembourg
• Understand the roles and responsibilities of the different actors

• Objectives of the regulations
• European and Luxembourg legal framework
• From intermediation to distribution: towards a new governance of networks
• Registration or approval
• Status of Intermediaries A Title Accessory (IATA)
• Direct sales
• Fit & Proper intermediaries
• Professional liability
• The professional obligations and key tools introduced by IDD
• Customer knowledge
• Prior information to clients
• Articulation of IDD and PRIIPS regulations
• Evaluation of the suitability and appropriate characteristics of  products
• Product governance
• Management of conflicts of interest
• Pay schemes and benefits practice (inducement)
• The development of professional skills
• Penalties