Insurance Distribution Directive - 5 days to go..

Insurance Distribution Directive

Ben Allen, Compliance Director

Another month and another EU directive for us to decipher, interpret and implement – I suppose I should be grateful that they are keeping me in work!

On the horizon (and coming up fast!) is the Insurance Distribution Directive (IDD). In fact, if truth be told, it’s here already. The final date for implementation is 1st October, but this date was extended from 23rd February, and firms, including our insurance partners have been preparing for these changes for some time now, so this probably isn’t much of a shock.

You may recall that we spoke at our National Training Event last November about the impact of the Insurance Distribution Directive. I used this opportunity to highlight the key changes that will affect us in the intermediated sales space as a network and as advisers.

So now, with less than a month to implementation I want to remind you of some of the changes that will take place and draw to your attention the impact that you may experience.

But first, let’s consider the reason why we are having these changes.