The MFSA issued a number of documents for Consultation
primarily as a consequence of transposing the Insurance
Distribution Directive.
Introduction
The clock is ticking and the Malta Financial Services Authority
("MFSA") has only seven months left to transpose
Directive (EU) 2016/97 of the European Parliament and of the
Council of 20 January 2016 on insurance distribution (recast), (the
"Insurance Distribution Directive" or "IDD")
into national law. This means that affected parties have even less
time to comply with the new requirements by 23rd February 2018, the
deadline date for transposition.
More than 40 pages long, as opposed to the eight pages of the
IMD, the IDD makes a number of significant changes to the earlier
regime. On the 3rd July 2017, the MFSA issued a number of documents
for consultation, primarily as a consequence of transposing the
Insurance Distribution Directive.
