FIN. TeamThe PRA has published a consultation paper on amending the effective date of its rules implementing the IDD, in response to proposals from the European Commission to push IDD implementation back from 23 February 2018 to 1 October 2018.
Proposals to amend the effective date to align with the Commission proposal do not represent a change in PRA policy, and the PRA does not consider that the proposals will adversely impact the firms to which they will apply.
The consultation closes on Monday 12 February 2018. This week-long period has been justified by the PRA on the grounds that, notwithstanding any responses, Member States are still required to transpose IDD into national law by 23 February 2018.
