Review of the PPI Order
The CMA has concluded a limited review of the Payment Protection Insurance Market Investigation Order 2011 and is consulting on a Variation Order.
Case timetable
| Date | Action |
|---|---|
| 20 December 2018 | Publication and coming into force of final Variation Order |
| 13 December 2018 | Closing date for consultation on draft Variation Order |
| 13 November 2018 | Publication of final decision |
| 29 October 2018 | Closing date for consultation on provisional decision |
| 27 September | Provisional decision and notice of intention to vary the Order published |
| 21 September 2018 | Closing date for launch consultation |
| 20 September 2018 | Inquiry group appointed |
| 6 September 2018 | PPI Order review opened |
Final Variation Order
20 December 2018: Following a consultation, and having taken respondents’ comments into account, the CMA has published the Payment Protection Insurance Market Investigation Order 2011 Variation Order 2018, which comes into force today. The variation order requires the production of an IPID for all PPI providers to replace the policy summary.
- (20.12.18)
Final decision and draft Variation Order
13 November 2018: Following a consultation and having taken respondents’ comments into account, the CMA has decided that the new Insurance Distribution Directive represents a change of circumstances, such that the Payment Protection Insurance Market Investigation Order 2011 should be varied to require the production of an IPID for all PPI providers to replace the policy summary. A draft Variation Order and a formal Notice of Intention to Vary are published alongside the final decision.
- (13.11.18)
- (13.11.18)
- (13.11.18)
The CMA is now consulting on the draft Variation Order. Responses should be sent to the following address and should arrive at the CMA by 5pm on Thursday 13 December 2018. Following this consultation, the CMA will consider the responses received and assess the evidence and views presented before publishing the final Variation Order.
PPI Remedy Review
Competition and Markets Authority
RBFA - 6th Floor North East
Victoria House
37 Southampton Row
London WC1B 4AD
Provisional decision and notice of intention to vary the Order
27 September 2018: Following a consultation and having taken respondents’ comments into account, the CMA has made a provisional decision that a relevant change of circumstances has occurred such that it is appropriate to vary the Payment Protection Insurance Market Investigation Order 2011.
- (27.9.18)
Review group appointed
20 September 2018: The following group appointed to this review are:
Roland Green (Chair), Ulrike Hotopp and Keith Richards.
Decision to undertake review
6 September 2018: Following consultation and having taken into account the submissions of a number of parties, the CMA has decided to review the Payment Protection Insurance Market Investigation Order 2011.
- (6.9.18)
Invitation to comment: now closed
The CMA has launched this review in response to the introduction of the Insurance Distribution Directive. The CMA invites views supported by relevant evidence concerning the three options for variation of the Payment Protection Insurance Market Investigation Order 2011 to take account of this directive which are outlined in the CMA’s decision to undertake the review.
The CMA will use the evidence received and carry out its own analysis, and a provisional decision will be made by the appointed group members.
Updates to this page
Published 6 September 2018Last updated 13 November 2018 + show all updates
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Final decision and draft Variation Order published.
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Provisional decision published.
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Review group appointed.
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First published.