Directive (EU) 2016/97 of the European Parliament and of the CouncilDangos y teitl llawn

ANNEX I U.K. MINIMUM PROFESSIONAL KNOWLEDGE AND COMPETENCE REQUIREMENTS(as referred to in Article 10(2)

I

Non-life risks classified under classes 1 to 18 in Part A of Annex I to Directive 2009/138/EC:

(a)

minimum necessary knowledge of terms and conditions of policies offered, including ancillary risks if covered by such policies;

(b)

minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law, relevant tax law and relevant social and labour law;

(c)

minimum necessary knowledge of claims handling;

(d)

minimum necessary knowledge of complaints handling;

(e)

minimum necessary knowledge of assessing customer needs;

(f)

minimum necessary knowledge of the insurance market;

(g)

minimum necessary knowledge of business ethics standards; and

(h)

minimum necessary financial competency.

II

Insurance-based investment products:

(a)

minimum necessary knowledge of insurance-based investment products, including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed benefits;

(b)

minimum necessary knowledge of advantages and disadvantages of different investment options for policyholders;

(c)

minimum necessary knowledge of financial risks borne by policyholders;

(d)

minimum necessary knowledge of policies covering life risks and other savings products;

(e)

minimum necessary knowledge of organisation and benefits guaranteed by the pension system;

(f)

minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law and relevant tax law;

(g)

minimum necessary knowledge of the insurance market and of the saving products market;

(h)

minimum necessary knowledge of complaints handling;

(i)

minimum necessary knowledge of assessing customer needs;

(j)

conflicts of interest management;

(k)

minimum necessary knowledge of business ethics standards; and

(l)

minimum necessary financial competency.

III

Life risks classified in Annex II to Directive 2009/138/EC:

(a)

minimum necessary knowledge of policies including terms, conditions, the guaranteed benefits and, where applicable, ancillary risks;

(b)

minimum necessary knowledge of organisation and benefits guaranteed by the pension system of the relevant Member State;

(c)

knowledge of applicable insurance contract law, consumer protection law, data protection law, anti-money laundering law and, where applicable, relevant tax law and relevant social and labour law;

(d)

minimum necessary knowledge of the insurance and other relevant financial services markets;

(e)

minimum necessary knowledge of complaints handling;

(f)

minimum necessary knowledge of assessing consumer needs;

(g)

conflicts of interest management;

(h)

minimum necessary knowledge of business ethics standards; and

(i)

minimum necessary financial competency.

ANNEX II U.K.

PART A U.K. Repealed Directive with list of its successive amendments

Directive 2002/92/EC of the European Parliament and of the Council (OJ L 9, 15.1.2003, p. 3).

Directive 2014/65/EU of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 349).

Directive (EU) 2016/97 of the European Parliament and of the Council (OJ L 26, 2.2.2016, p. 19).

PART B U.K. Time limits for transposition into national law referred to in Article 44

Directive	Time limit for transposition of amending Directives
2014/65/EU (EU) 2016/97	3.7.2016 22.2.2016 (as regards amendment of Directive 2002/92/EC in accordance with Article 43 of this Directive) 23.2.2018 (as regards transposition of this Directive in accordance with Article 42)

ANNEX III U.K. Correlation table

Directive 2002/92/EC	This Directive
Article 1(1)	Article 1(1) and (2)
Article 1(2)	Article 1(3) and (4)
Article 1(3)	Article 1(6)
Article 2 point (1)	Article 2(1) point (6)
Article 2 point (2)	Article 2(1) point (7)
Article 2 point (3)	Article 2(1) point (1) and Article 2(2)
Article 2 point (4)	Article 2(1) point (2) and Article 2(2)
Article 2 point (5)	Article 2(1) point (3)
Article 2 point (6)	Article 2(1) point (5)
Article 2 point (7)	—
Article 2 point (8)	Article 2(1) point (16)
Article 2 point (9)	Article 2(1) point (10)
Article 2 point (10)	Article 2(1) point (11)
Article 2 point (11)	—
Article 2 point (12)	Article 2(1) point (18)
Article 2 point (13)	Article 2(1) point (17)
Article 3(1)	Article 3(1)
Article 3(2)	Article 3(2) and (3)
Article 3(3)	Article 3(4)
Article 3(4)	—
Article 3(5)	—
Article 3(6)	Article 16
Article 4(1)	Article 10(1) and (2)
Article 4(2)	Article 10(3)
Article 4(3)	Article 10(4)
Article 4(4)	Article 10(6)
Article 4(5)	—
Article 4(6)	—
Article 4(7)	Article 10(7)
Article 5	Article 40
Article 6(1)	Articles 4 and 6
Article 6(2)	—
Article 6(3)	Article 11(1)
Article 7	Article 12
Article 8	Articles 5, 7, 31 to 36
Article 9	Article 13
Article 10	Article 14
Article 11	Article 15
Article 12(1) point (a)	Article 18 points (a)(i), (b)(i)
Article 12(1) point (b)	Article 18 point (a)(iv)
Article 12(1) point (c)	Article 19(1) point (a)
Article 12(1) point (d)	Article 19(1) point (b)
Article 12(1) point (e)	Articles 18 points (a)(iii), (b)(iii) and 19(1) point (c)
Article 12(2)	Article 20(3)
Article 12(3)	Article 20(1)
Article 12(4)	Article 22(1)
Article 12(5)	Article 22(2) and (4)
Article 13	Article 23
Article 14	—
Article 15	—
Article 16	—
Article 17	—