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ARTICLE · 14 SEPTEMBER 2016

ECON Objects To Delegated Regulation On RTS On Key Information Documents For PRIIPs

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The European Parliament announced that ECON has voted to object to the European Commission's proposed Delegated Regulation supplementing the Regulation on key information documents (KIDs) for PRIIPs.

European UnionFinance and Banking
Amy Roper
Amy Roper
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The European Parliament published a press release on September 1, 2016 announcing that the Economic and Monetary Affairs Committee (ECON) has voted to object to the European Commission's proposed Delegated Regulation supplementing the Regulation on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) (Regulation 1286/2014) (PRIIPs KID Regulation). This market is worth up to €10 trillion in Europe.

The proposed Delegated Regulation sets the regulatory technical standards (RTS) on the presentation, content, review and revision of the KID, together with the conditions for fulfilling the requirement to provide such documents.

ECON's concerns include the fact that the proposed formulas in the KID for predicting investment performance contain flaws which would make performance look far better than it was likely to be. As such, this would be potentially misleading for investors.

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