20/12/2017 (Agence Europe) – The insurance distribution directive (IDD) was initially planned to enter into force in February 2018 but this will finally happen seven months later on 1 October next year, according to an announcement made by the European Commission on Wednesday 20 December. This postponement was “exceptional" and was introduced by request of the European Parliament and 16-member states that highlighted difficulties being encountered by the insurance sector in their efforts to comply with new rules (see EUROPE 11873). The Commission is also proposing to postpone the entry into force of two delegated acts adopted at the end of September on monitoring and governance for insurance products and the rules of conduct for traders operating in this field (see EUROPE 11867). The 23 February 2018 deadline for transposing the directive remains unchanged. This decision now has to be fast tracked for approval by Parliament and Council of the EU. (MF)