Insurance had been excluded from the Retail Distribution Review in 2012, with its focus on removing the commission bias on investment products, but now under IDD commission amounts on insurance products have to be disclosed, where they were not previously.
Mr Avis said: "The news shows with final legislation coming into force in January, the implementation date of 23 February was unrealistic for a number of reasons.
"Technically, this should go back to parliament and counsel, and the Financial Conduct Authority could act in line with the original proposal.
"The 1 October date gives all parties time to understand what the detailed, specific requirements are and ensure that systems and processes are implemented to comply with it."
simoney.kyriakou@ft.com
