European Commission adopts IDD delegated regulations

The European Commission has adopted the following two delegated regulations in relation to IDD:

1. conduct of business rules for the distribution of insurance-based investment products; and
2. product oversight and governance requirements  for insurance undertakings and insurance distributors.

The next step will be for the Council of the EU and the European Parliament to consider the Delegated Regulations. If neither of them objects, the Delegated Regulations will enter into force 20 days after their publication in the Official Journal of the EU. Both Delegated Regulations will apply from 23 February 2018.