Tag Archives: IDD

European Commission publishes rules for insurance product information document under IDD

The European Commission has published a regulation laying down a standardised presentation format for the insurance product information document (IPID) to comply with IDD. The IDD must be transposed into national  law by 28 February 2018 and the IPID must be provided to customers with the necessary information about non-life insurance products in order to […]

Up next from FCA

FCA’s latest policy development update promises several papers before the end of September: consultation on market infrastructure provider fee rates consultation on insurers’ tariff data finalised guidance on FAMR implementation part 1 and policy statement on the first IDD consultation and publication of the third consultation The long-planned consultation on new rules for firms running […]

FCA publishes second Consultation Paper on IDD implementation

Following on from Consultation Paper (CP) 17/7, FCA has published CP 17/23 detailing further proposals on the implementation of the IDD in the UK. The CP is relevant to firms, including insurance and reinsurance companies, insurance intermediaries and firms categorised under the IDD as ancillary insurance intermediaries, as well as other stakeholders. In order to […]

EC publishes draft Delegated Regulation on IPID requirements under IDD

EC has published for consultation a draft Delegated Regulation supplementing the IDD  concerning information requirements and conduct of business rules applicable to the  distribution of insurance-based investment products (IPIDs). The IDD contains a specific chapter, with additional conduct of business requirements, on the sale of IPIDs. The Delegated Regulation, which is based on previous technical advice delivered […]

Up next from FCA

FCA’s latest policy development update includes: second consultation on the IDD due in July, with a policy statement on the first consultation due in September; consultation on current account services in July and no date yet for the promised consultation on a review of the crowdfunding rules

Up next from FCA

FCA’s latest policy development update  provides information on its recent and upcoming publications. Only one key publication is shown as scheduled for June –  a policy statement on enhancing conduct of business rules for firms providing cfd products to retail clients. The policy statement on the first CP on IDD implementation is due in September, but there is […]

Article on the implementation of IDD

We have written an article for Compliance Monitor on the implementation of IDD, looking specifically at consultations by HM Treasury and the FCA on the proposed changes to UK law and regulation.

Bond Dickinson commercial insurance timeline

We have prepared a commercial insurance timeline which highlights key legislation, regulation, cases and other developments that impact on the industry. This timeline covers developments from March 2017 onwards.

FCA consults on IDD implementation

Following the publication of the Treasury’s consultation on 27 February 2017, the FCA has published the first of its two-part consultation on the transposition of the Insurance Distribution Directive (IDD) which must take place by 23 February 2018. The IDD will replace the Insurance Mediation Directive (IMD). The FCA’s first consultation paper covers its proposals […]

In the FCA pipeline

FCA has updated its policy development webpage for March 2017. Key publications due before the summer include: March/Q1 2017: IDD Implementation – CP1 MAR 1 changes: inside information relating to commodity derivatives CP on new rules for firms running crowdfunding platforms CP on redress methodology for pension transfers CP on creditworthiness and affordability in consumer credit […]