Brussels, 30/11/2010 (Agence Europe) - The European Commission has organised a public consultation until the end of January 2011. This consultation will examine how to increase transparency in sales of packaged retail investment products (PRIPs) and establish a level playing field between distributors (insurance companies and intermediaries). In parallel with the work on PRIPS (see other article), the Commission is developing legislative proposals for 2011, which will amend European legislation (directive 2002/92/EC) that has been applied since 2005. Provisions inspired by the “Markets in Financial Instruments” directive (2004/39) will be covered in an effort to better frame the activities of providers and conflicts of interest that are likely to emerge between issuers and distributors. Some distributors of insurance products are paid more during the sale of the specific products and could be tempted to sell a policy that is not adapted to the needs of their customers. Legislative revision aims to increase the level of pre-contractual information harmonisation provided to consumers and to increase information requirements on rights related to the purchasing of an insurance product. The question of the directive's field of application is also posed, particularly with regard to the inclusion of insurance companies in this legislation. (M.B./transl.fl)