New application date for the insurance distribution directive

On 20 December 2017, the European Commission has proposed to push back the application date of the insurance distribution directive (IDD) by seven months to 1 October 2018. EU countries are still required to transpose IDD into national law by the original date, 23 February 2018. In order to align the application dates, the Commission is also preparing to postpone the application of two delegated regulations adopted under the IDD. The European Parliament and the Council will need to agree on the new application date in an accelerated legislative procedure.