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The proposal will need to be agreed by the European Parliament and the Council in an accelerated legislative procedure. As a result the PRA is proposing to update the IDD-related rules made in PS31/17 to be effective from the updated application date of Monday 1 October 2018. Minor, non-IDD-related editorial changes will still be made on Friday 23 February.
In this CP, the PRA proposes to amend the effective dates of PRA rules related to the IDD following a proposal by the European Commission to postpone the application date of the IDD. The proposed changes do not represent a change in PRA policy, and the PRA does not consider that they will impact adversely on the firms to which they will apply.
This consultation closes on Monday 12 February 2018.