The results show that IDD regulations will “dramatically change” inducement rules in some countries – “for the worse from a business perspective”.
The biggest impact will be on Austria, Spain, Poland and Luxembourg.
The study covered 10 of the largest markets across Europe, including Germany, France, Italy and the UK.
Unknown and underappreciated
Fecif’s vice chairman Jiří Šindelář said the research provides “much needed data, some of which is otherwise unknown and unappreciated”.
“By utilising the vast spread, expertise and experiences of our membership we are able to conduct market-leading and often unique research on a twice yearly basis. This is of considerable value to our members and also all other stakeholders, where it is possible and appropriate to circulate the data more widely.”
According to Šindelář, who has campaigned vigorously for a lighter touch regime in Europe, the regulations bring significant administrative burden to investment firms.
IDD implementation has been delayed until October 2018 after the industry asked for more time to get to grips with the rules.