CISI CPD Scheme
The CISI is currently developing its CPD Scheme to enable members and firms to monitor their CPD progress in meeting these requirements. Please do visit this page regularly for updates on this development and the launch of new CPD opportunities in this area.
New Professional Refresher: Insurance Distribution Directive
This module examines what the IDD covers, why it was introduced and how it relates to everyday business. It also explores the key requirements for insurance distributors, the specific knowledge and ability requirements, the in‐scope products and people, and what is required to comply with the IDD in practical terms. As a CISI member you can access this module in MyCISI within the Professional Refresher Suite.
The IDD is a minimum harmonising directive, which can be accessed in the Official Journal of the European Union:
The IDD enables the European Commission to make secondary legislation. That legislation is comprised of delegated acts and implementing technical standards. These can be accessed on the European Commission website:
The IDD also empowers the European Insurance and Occupational Pensions Authority (EIOPA) to develop supporting guidelines. These can be accessed on the EIOPA website:
- Guidelines: under the IDD on insurance-based investment products that incorporate a structure which makes it difficult for the customer to understand the risks involved
- Questions and Answers: on the application of the IDD in respect of product governance and the regulatory requirements for insurance-based investment products.
Member States, including the UK, must implement the Directive into national law by 1 July 2018 (this was delayed from the original transposition date of 23 February 2018). The requirements will apply to firms from 1 October 2018.
IDD Quarterly Consultation Papers:
Feedback to CP17/32 and CP17/39 was provided in the third policy statement, PS18/1.
The Treasury has also published a consultation paper and feedback statement, which can be accessed on the Treasury website: