{"id":1045,"date":"2024-03-26T09:41:00","date_gmt":"2024-03-26T09:41:00","guid":{"rendered":"https:\/\/segurosecidadania.pt\/?p=1045"},"modified":"2024-03-29T10:19:32","modified_gmt":"2024-03-29T10:19:32","slug":"legislacao-europeia-em-preparacao-3","status":"publish","type":"post","link":"https:\/\/segurosecidadania.pt\/?p=1045","title":{"rendered":"RETAIL INVESTMENT STRATEGY"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-5frk85-9e967abbbe41d1cdf5fd8eec579945b1\">\n.avia-section.av-5frk85-9e967abbbe41d1cdf5fd8eec579945b1{\nbackground-color:#ff8100;\nbackground-image:unset;\nz-index:0;\nposition:relative;\n}\n.av-curtain-footer.av-curtain-activated #main .avia-section.av-5frk85-9e967abbbe41d1cdf5fd8eec579945b1{\nz-index:0;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section av-5frk85-9e967abbbe41d1cdf5fd8eec579945b1 main_color avia-section-small avia-no-border-styling  avia-builder-el-0  el_before_av_one_full  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.av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-special-heading-tag{\nfont-size:25px;\npadding:0 0 0 0;\n}\n.av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .special-heading-inner-border{\nborder-color:rgba(0,0,0,0.01);\n}\n.av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-subheading{\nfont-size:20px;\n}\nbody .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-special-heading-tag .heading-wrap:before{\nborder-color:rgba(0,0,0,0.01);\n}\nbody .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-special-heading-tag .heading-wrap:after{\nborder-color:rgba(0,0,0,0.01);\n}\n\n@media only screen and (max-width: 479px){ \n#top .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735{\nmargin:0 0 -100px 0;\n}\n#top #wrap_all .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-special-heading-tag{\nfont-size:17px;\n}\n}\n\n@media only screen and (min-width: 768px) and (max-width: 989px){ \n#top .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735{\nmargin:0 0 -35px 0;\n}\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735{\nmargin:0 0 -35px 0;\n}\n#top #wrap_all .av-special-heading.av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-21d9ol-8aa182bf0f424b7c2adb0d6cb459b735 av-special-heading-h6 custom-color-heading blockquote modern-quote  avia-builder-el-2  avia-builder-el-no-sibling  av-inherit-size'><h6 class='av-special-heading-tag'  itemprop=\"headline\"  >Newsletter APS #02 | mar\u00e7o 2024<\/h6><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><div id='after_section_1'  class='main_color av_default_container_wrap container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-1045'><div class='entry-content-wrapper clearfix'>\n<div  class='flex_column av-p5d3-ca9b10c70a3aa155c22681b3e7707f30 av_one_full  avia-builder-el-3  el_after_av_section  avia-builder-el-no-sibling  first flex_column_div  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-d879i-359a8dc95d6bd607d6a5293f82851785\">\n#top .av-post-metadata-container.av-d879i-359a8dc95d6bd607d6a5293f82851785{\nfont-size:14px;\nmargin:0 0 1px 0;\n}\n#top .av-post-metadata-container.av-d879i-359a8dc95d6bd607d6a5293f82851785 .av-post-metadata-container-inner{\nfont-size:14px;\n}\n<\/style>\n<div  class='av-post-metadata-container av-d879i-359a8dc95d6bd607d6a5293f82851785 av-metadata-container-align-left  avia-builder-el-4  el_before_av_heading  avia-builder-el-first  av-metadata-container-1'><div class='av-post-metadata-container-inner'><span class=\"av-post-metadata-content av-post-metadata-meta-content\"><span class=\"av-post-metadata-content av-post-metadata-category\"><span class=\"av-post-metadata-category-link\" ><a href=\"https:\/\/segurosecidadania.pt\/?cat=22\" >Legisla\u00e7\u00e3o e regulamenta\u00e7\u00e3o europeia<\/a><\/span><\/span><\/span><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6\">\n#top .av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6{\nmargin:0 0 0 0;\npadding-bottom:0;\nfont-size:30px;\n}\nbody .av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 .av-special-heading-tag{\nfont-size:30px;\npadding:0 0 20px 0;\n}\n.av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-14ufa-657c9b5ea12dccdff0f1425dac37d7b6 av-special-heading-h1 blockquote modern-quote  avia-builder-el-5  el_after_av_post_metadata  el_before_av_image  av-inherit-size'><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >RETAIL INVESTMENT STRATEGY<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpcvo0mx-85ea346774c3020f0a16bd478165b592\">\n.avia-image-container.av-lpcvo0mx-85ea346774c3020f0a16bd478165b592 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-lpcvo0mx-85ea346774c3020f0a16bd478165b592 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-lpcvo0mx-85ea346774c3020f0a16bd478165b592 av-styling- avia-align-center  avia-builder-el-6  el_after_av_heading  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-1090 avia-img-lazy-loading-not-1090 avia_image ' src=\"https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE.jpg\" alt='' title='CEE'  height=\"800\" width=\"2000\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE.jpg 2000w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-300x120.jpg 300w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-1030x412.jpg 1030w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-768x307.jpg 768w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-1536x614.jpg 1536w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-1500x600.jpg 1500w, https:\/\/segurosecidadania.pt\/wp-content\/uploads\/2024\/03\/CEE-705x282.jpg 705w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-lpcvxr49-658fa9932d29cf43ab3d722201b819e3 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div><\/div>\n<div>\n<div><\/div>\n<div>\n<p>Em maio de 2023, a Comiss\u00e3o Europeia apresentou um conjunto de propostas legislativas, composto por uma proposta de diretiva<em> \u2013 <\/em><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/PT\/TXT\/?uri=CELEX:52023PC0279\" target=\"_blank\" rel=\"noopener\"><em>Diretiva Omnibus<\/em><\/a><strong> \u2013 <\/strong>que altera diversas diretivas, tais como a Diretiva relativa \u00e0 distribui\u00e7\u00e3o de seguros (\u2018\u2019DDS\u2019\u2019), a Diretiva Solv\u00eancia II e a Diretiva de Mercados e Instrumentos Financeiros (\u2018\u2019DMIF\u2019\u2019), e uma proposta de regulamento, que prev\u00ea altera\u00e7\u00f5es \u00e0s regras dos produtos de investimento com base em seguros (\u2018\u2019PIBS\u2019\u2019) e em especial a altera\u00e7\u00e3o do DIF\/KID.<\/p>\n<p>O objetivo da Comiss\u00e3o \u00e9 o de capacitar os pequenos investidores \u2013 investidores n\u00e3o profissionais \u2013 para tomarem decis\u00f5es ajustadas \u00e0s suas necessidades e prefer\u00eancias e garantir que est\u00e3o devidamente protegidos, de modo a incentivar a sua participa\u00e7\u00e3o nos mercados de capitais da Uni\u00e3o Europeia.<\/p>\n<p>Por um lado, e no que importa ao setor segurador, este pacote de propostas pretende eliminar as comiss\u00f5es (<strong>incentivos<\/strong>, na linguagem da proposta) pagas aos intermedi\u00e1rios financeiros pelas seguradoras na distribui\u00e7\u00e3o sem aconselhamento de produtos de investimento baseados em seguros, que passam a ser pagas diretamente pelo investidor. Por outro lado, s\u00e3o introduzidos um conjunto de requisitos designados \u00ab<em>value for money benchmarks<\/em>\u00bb, que se traduzem num processo de defini\u00e7\u00e3o de custos e desempenhos, concretizado atrav\u00e9s de \u00edndices de refer\u00eancia desenvolvidos e publicados pela EIOPA, os quais devem balizar a oferta de produtos das seguradoras.<\/p>\n<p>Al\u00e9m disso, s\u00e3o tamb\u00e9m acrescentados novos testes de adequa\u00e7\u00e3o, para al\u00e9m dos j\u00e1 existentes, que tornar\u00e3o o processo de venda ainda mais longo \u2013 atualmente, a conclus\u00e3o de um processo de venda de PIBS requer 1 hora e 30 min a 2 horas de tempo dos consumidores, com cerca de 339 elementos de informa\u00e7\u00e3o pr\u00e9-contratual.<\/p>\n<p>Este conjunto de altera\u00e7\u00f5es tem gerado alguma controv\u00e9rsia a n\u00edvel interinstitucional, com posi\u00e7\u00f5es antag\u00f3nicas, que tem impossibilitado a ado\u00e7\u00e3o de um acordo com vista \u00e0 conclus\u00e3o do processo legislativo ordin\u00e1rio. Por um lado, ao n\u00edvel do Parlamento Europeu, foi aprovado (saber mais <a href=\"https:\/\/www.reneweuropegroup.eu\/news\/2024-03-20\/retail-investment-strategy-empowered-consumers-stronger-eu-financial-markets\" target=\"_blank\" rel=\"noopener\">neste link<\/a>) no ECON (Comiss\u00e3o de Assuntos Econ\u00f3micos e Monet\u00e1rios) um relat\u00f3rio que introduz v\u00e1rias altera\u00e7\u00f5es ao texto inicial da Diretiva <em>Omnibus<\/em>, as quais, de acordo com a coordenadora do tema, permitir\u00e3o que os conflitos de interesses sobre os incentivos dos intermedi\u00e1rios financeiros possam ser abordados de forma mais transparente, proporcionando um equil\u00edbrio entre o benef\u00edcio dos cidad\u00e3os e a competitividade das empresas, em especial, das PME\u2019s. Este relat\u00f3rio ser\u00e1 agora convertido numa proposta de altera\u00e7\u00e3o ao texto inicial, a qual ser\u00e1 votada no plen\u00e1rio do Parlamento Europeu, previsivelmente, no dia 10 de abril de 2024.<\/p>\n<p>Por outro lado, a presid\u00eancia belga do Conselho Europeu tamb\u00e9m introduziu algumas altera\u00e7\u00f5es ao texto final da Diretiva <em>Omnibus<\/em>, e que t\u00eam vindo a ser discutidas nos grupos de trabalho, mas que, por enquanto, ainda n\u00e3o s\u00e3o p\u00fablicas.<\/p>\n<p>Em defesa do setor segurador, a Insurance Europe &#8211; Federa\u00e7\u00e3o Europeia de Seguros e Resseguros, tem contribu\u00eddo e apresentado argumentos s\u00f3lidos que contrariam, veementemente, v\u00e1rias das altera\u00e7\u00f5es que constam das propostas de altera\u00e7\u00e3o, atendendo aos efeitos nefastos que as mesmas ter\u00e3o no mercado segurador (saber mais <a href=\"https:\/\/www.insuranceeurope.eu\/eu-retail-investment-strategy\" target=\"_blank\" rel=\"noopener\">neste link<\/a>).<\/p>\n<p>Trata-se de um tema ainda n\u00e3o fechado, mas a merecer acompanhamento e aten\u00e7\u00e3o por parte do setor segurador, atentas as implica\u00e7\u00f5es que pode vir a ter na comercializa\u00e7\u00e3o deste tipo de produtos.<\/p>\n<p>Autor: APS<\/p>\n<p style=\"font-weight: 400;\">\n<\/div>\n<\/div>\n<div><\/div>\n<\/div><\/section><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Em maio de 2023, a Comiss\u00e3o Europeia apresentou um conjunto de propostas legislativas, composto por uma proposta de diretiva \u2013 Diretiva Omnibus \u2013 que altera diversas diretivas, tais como a Diretiva relativa \u00e0 distribui\u00e7\u00e3o de seguros (\u2018\u2019DDS\u2019\u2019), a Diretiva Solv\u00eancia II e a Diretiva de Mercados e Instrumentos Financeiros (\u2018\u2019DMIF\u2019\u2019), e uma proposta de regulamento, que prev\u00ea altera\u00e7\u00f5es \u00e0s regras dos produtos de investimento com base em seguros (\u2018\u2019PIBS\u2019\u2019) e em especial a altera\u00e7\u00e3o do DIF\/KID.<\/p>\n","protected":false},"author":1,"featured_media":1090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"quote","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-1045","post","type-post","status-publish","format-quote","has-post-thumbnail","hentry","category-legislacao-e-regulamentacao-europeia","post_format-post-format-quote"],"_links":{"self":[{"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/posts\/1045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1045"}],"version-history":[{"count":4,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/posts\/1045\/revisions"}],"predecessor-version":[{"id":1180,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/posts\/1045\/revisions\/1180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=\/wp\/v2\/media\/1090"}],"wp:attachment":[{"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/segurosecidadania.pt\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}