Regulation Tomorrow

Delay to implementation of IDD to be considered by European Parliament at 28 February to 1 March plenary session

The European Parliament will consider a Directive, published on 20 December 2017, which will delay the application of the Insurance Distribution Directive ((EU) 2016/97) (IDD) in their 28 February to 1 March plenary session.

The IDD was intended to come into force on 23 February, however, the Commission has decided to extend the IDD application date until 1 October 2018 in order to give the insurance sector more time to prepare for IDD requirements. The earlier transposition date is not being amended but insurance intermediaries would not be required to comply with the new legislation until 1 October 2018.

It is possible that Parliament may consider the proposed Directive at an earlier plenary session to allow for publication and entry into force of the new application date prior to the original one passing.

View: Directive delaying IDD implementation to be considered by European Parliament at 28 February to 1 March plenary session

Original Article Here

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