(16)Appropriate sanctions are needed against persons exercising the activity of insurance or reinsurance mediation without being registered, against insurance or reinsurance undertakings using the services of unregistered intermediaries and against intermediaries not complying with national provisions adopted pursuant to this Directive.
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New version applies from 02/07/2014 — introduced by Directive 2014/65/EU (MIFID II).
48 provisions change.
Later versions: 23/02/2016.
Recital 16 changes in this version: compare with the current text.