Consumer protection is key to EIOPA, so we take a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products and services across the EU. EIOPA's mandate in the area of consumer protection and financial innovation is broad, and some of EIOPA's tasks include:
- Collecting, analysing and reporting on consumer trends;
- Reviewing and coordinating financial literacy and education initiatives;
- Developing common disclosure rules.
- Adopting guidelines and recommendations to promote safety and soundness of markets, and convergence of regulatory practice;
- Developing training standards for the industry;
- Issuing warnings in case a financial activity poses a serious threat; and
- Temporarily prohibiting or restricting certain types of financial activities.
In 2015 EIOPA puts emphasis on issues like proper product oversight and governance, understandable key information documents, and avoidance of conflicts of interest, all important to avoid consumer detriment.
Work by EIOPA includes the publication of numerous advices, reports, opinions and guidelines. We also organise the Consumer Protection Day, an annual event that offers a forum for debates with stakeholders on important regulatory developments and topics on consumer trends.
Committee on Consumer Protection and Financial Innovation (CCPFI) plays a major role in EIOPA's work in consumer protection and financial innovation.
Public Hearing on the Insurance Distribution Directive
Joint ESAs Consumer Protection Day 2015
Joint ESAs Consumer Protection Day 2014
Joint ESAs Consumer Protection Day 2013
Consumer Strategy Day 2012
Consumer Strategy Day 2011