Compliance Update

Tue Jul 9 2019

Compliance Manual

Brokers Ireland Compliance Manual has been updated to reflect legislative and regulatory changes which have occurred since the last version.   The new version is available in the compliance support section of the Brokers Ireland website.

The manual has been updated in respect of the following areas:

  • Getting Authorised
  • Updates in respect of the Insurance Distribution Directive (i.e. Fair/Personal Analysis / Insurance Referrals / Use of the term independent / IPID)
  • Update to MCC section to reflect the removal of the grandfathering arrangement for mortgages
  • Tied Agent section

Updated template documents include:

  • The client file checklist
  • Home Insurance Fact find
  • Motor Insurance Fact find

Summer Seminar Compliance Presentation

The recent Compliance update presentation which was provided at the Portloaise seminar is available in the Presentations folder in the reference library section of the Brokers Ireland website.   The presentation covered the following items:

  • Update from Brokers Ireland recent Central Bank bi-meeting
  • Central Bank Funding Levy
  • Insurance Distribution Regulation (IDR) – key changes
  • Updated Compliance Manual & AML/CTF Guidance
  • Non- Life Insurance (Provision of Information) Regulation 2018

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