FCA has published a third consultation with regard to IDD implementation in the UK. It covers changes to rules to reflect the requirements of the IDD delegated acts. With regard to life insurance distribution business, this includes changes in relation to: inducements, suitability, appropriateness and disclosure requirements for insurance-based investment products and disclosure requirements for mandatory occupational pensions . With regard to all insurance distribution business, including life and non-investment business, this includes changes with regard to: conflicts of interest; product oversight and governance; PERG; regulatory processes and additional changes, including consequential amendments, to other parts of the Handbook. Responses are required by 25 November 2017.
See the consultation paper.
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