The Council of the European Union has published the final compromise text of the Insurance Distribution Directive that was agreed at trilogue on 30 June 2015.

The Council has also invited the Permanent Representatives Committee (Part 2) to approve the text, and confirm that the Presidency can tell the Parliament that, if the Parliament adopt its position at first reading, the Council will approve the Parliament’s position, and the Directive will be adopted.

The final compromise text still assumes that the Directive will come into force 20 days after it’s published in the Official Journal; and that it will repeal and replace the Insurance Mediation Directive 2 years after that. The final text is also “minimum harmonising”, so member states can require more of the (re)insurers and (re)insurance distributors established in their respective jurisdictions than the Directive itself requires. It’s not yet clear whether any of the member states will do this – although the UK might.