Magnusson updates

Preliminary ruling on concept of insurance mediation
Magnusson
  • Insurance
  • Sweden
  • June 26 2018

The European Court of Justice recently issued a preliminary ruling on a case referred by the Swedish Supreme Court concerning the interpretation of the concept of insurance mediation with respect to fictitious insurance products and whether investment advice regarding insurance-wrapped financial instruments fell within the scope of the EU Insurance Mediation Directive or the EU Markets in Financial Instruments Directive. Firm conclusions on the effect of the ruling are premature, but market adjustments are expected.

Insurance mediation or investment advice?
Magnusson
  • Insurance
  • Sweden
  • December 05 2017

The Supreme Court recently referred a case to the European Court of Justice (ECJ) concerning the demarcation of insurance mediation and investment advice, and the extent to which the statutory liability insurance for insurance intermediaries should respond to claims in respect of such services. In tandem with the ECJ proceedings, the Swedish Ministry of Finance proposed that the EU Insurance Distribution Directive 2016/97 be transposed into local law by way of introducing an insurance distribution act.

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