The Prudential Regulation Authority (PRA) has published Insurance Distribution Directive: change to commencement date (CP4/18) in which it proposes to amend the effective dates of PRA rules related to the Insurance Distribution Directive (IDD) following a proposal by the European Commission to postpone the application date of the IDD.
After the final rules for the IDD changes were published in PS31/17, the European Commission announced a proposal to postpone the application date of the IDD from Friday 23 February 2018 to Monday 1 October 2018 – this proposal will need to be agreed by the European Parliament and the Council in an accelerated legislative procedure. As a result, the PRA proposes to update the IDD-related rules made in PS31/17 to be effective from the updated application date in October. Non-IDD related changes will still be made on 23 February 2018.
The deadline for responses to this consultation is 12 February 2018.
View: PRA publish CP4/18 regarding change to IDD commencement date