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Chapter II: Additional requirements for capitalisation contracts and certain life insurance contracts

Article L522-1 of the French Insurance Code

In addition to the obligations imposed on him or her pursuant to the provisions of Articles L. 521-1, L. 521-2 and L. 521-3 and Commission Delegated Regulation (EU) 2017/2359 of 21 September 2017, the intermediary or insurance undertaking that carries out distribution activities for individual life insurance contracts with surrender values, the subscription of a capitalisation contract or membership of a contract mentioned in Article L. 132-5-3 or Article L….

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Article L522-2 of the French Insurance Code

When carrying out insurance distribution activities, insurance intermediaries and insurance undertakings shall take all appropriate measures to detect conflicts of interest that may arise between themselves, including their respective managers and staff, any person directly or indirectly linked to them by a control relationship, and their policyholders or members or between two policyholders or members, when carrying out insurance distribution activities. Where the arrangements put in place by the intermediary…

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Article L522-3 of the French Insurance Code

Without prejudice to the provisions of articles L. 521-1 and L. 521-2, the intermediary or insurance company shall provide the prospective subscriber or member with the following information prior to the conclusion of any contract referred to in article L. 522-1: 1° An indication of whether or not the periodic assessment of the suitability of the recommended investment products for the requirements and needs of subscribers and members, as provided…

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Article L522-4 of the French Insurance Code

Intermediaries or insurance undertakings are deemed to comply with the obligations defined in I of Article L. 521-1, Article L. 522-1 or Article L. 522-2 when they pay or receive a fee or commission, or provide or receive a non-monetary benefit in connection with the distribution of a contract referred to in Article L. 522-1, to or by any party other than the policyholder or member or the person acting…

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Article L522-5 of the French Insurance Code

I.-Prior to taking out or subscribing to a contract as referred to in article L. 522-1, the intermediary or the insurance or capitalisation undertaking shall specify in writing the requirements and needs expressed by the potential subscriber, as well as the reasons justifying the appropriateness of the proposed contract. He or she shall provide objective information on the proposed insurance product in a comprehensible, accurate and non-misleading form to enable…

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Article L522-6 of the French Insurance Code

Where an intermediary or an insurance undertaking has informed the policyholder or subscriber that it will carry out a periodic assessment of the suitability of the recommended investment products, this assessment will include an updated statement on how the insurance-based investment meets the preferences, objectives and other characteristics of the policyholder or subscriber. Where the policyholder or subscriber does not provide the information referred to in article L. 522-5, the…

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