HM Treasury has announced that it intends to delay the process of converting the Insurance Distribution Directive (IDD) into law. This is due to the current uncertainty surrounding the decision by the European Parliament to push back the IDD’s implementation until October 2018.
As the proposal is still being considered by the EU parliament, the UK government has chosen to wait until the results are known, before acting. The consideration process is expected to be finished by the 23rd of February.
The Financial Conduct Authority (FCA) has also set out plans for the new delay to the IDD’s implementation in the UK – Further details can be found at the following link.
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