The European Commission has proposed pushing back the application date of the Insurance Distribution Directive (IDD) by seven months to 1 October 2018.
The European Parliament and 16 member states have requested the delay. "Despite the foreseen transposition period and the fact the date of entry into application was well-known to stakeholders, it appears...
'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’
Only 9,486 applied for the benefit in 12 months