Regulation 10 Conflicts of interest and inducements

(1)

Chapter 2 (conflicts of interest and inducements) is amended as follows.

(2)

In Article 3 (identification of conflicts of interest), in paragraph 1, for “Article 28 of Directive (EU) 2016/97” substitute “rules 3.3.5, 3.3.13, 10.1.3 and 10.1.8 of the Senior Management Arrangements, Systems and Controls sourcebook, in so far as those rules apply to the insurance-based investment products”.

(3)

In Article 4 (conflicts of interest policy), in paragraph 1, for “Article 27 of Directive (EU) 2016/97” substitute “rules 3.3.8, 3.3.9, 10.1.3, 10.1.7 and 10.1.7A of the Senior Management Arrangements, Systems and Controls sourcebook, in so far as those rules apply to insurance-based investment products”.

(4)

In Article 6 (disclosure), in paragraph 1—

(a)

for “Article 28(2) of Directive (EU) 2016/97” substitute “rules 3.3.13 and 10.1.8 of the Senior Management Arrangements, Systems and Controls sourcebook, in so far as those rules apply to insurance-based investment products”;

(b)

for “Article 27 of Directive (EU) 2016/97” substitute “rules 3.3.8, 3.3.9, 10.1.3, 10.1.7 and 10.1.7A of the Senior Management Arrangements, Systems and Controls sourcebook, in so far as those rules apply to insurance-based investment products”.

(5)

In Article 7 (review and record keeping), in paragraph 1, for “Article 27 of Directive (EU) 2016/97” substitute “rules 3.3.8, 3.3.9, 10.1.3, 10.1.7 and 10.1.7A of the Senior Management Arrangements, Systems and Controls sourcebook, in so far as those rules apply to insurance-based investment products”.