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ARTICLE · 23 NOVEMBER 2018

EU Proposals Aim To Avoid Duplicative Information Requirements On Investment Managers

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On November 8, 2018, the ESAs launched a consultation on amendments to the Key Information Document for Packaged Retail and Insurance-based Investment Products. Since January 1, 2018 ...

European UnionFinance and Banking
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On November 8, 2018, the ESAs launched a consultation on amendments to the Key Information Document for Packaged Retail and Insurance-based Investment Products. Since January 1, 2018, the EU PRIIPs Regulation has required manufacturers of PRIIPs to prepare and publish a stand-alone, standardized Key Information Document for each of their PRIIPs. Those advising retail investors on PRIIPs, or selling PRIIPs to retail investors, must provide retail investors with a KID in good time before the transaction is concluded.

The PRIIPs Regulation exempts until December 31, 2019 management and investment companies and persons advising on or selling Undertakings for Collective Investment in Transferable Securities from the obligation to produce and provide a PRIIPs KID. The UCITS Directive requires these entities to provide investors with a Key Investor Information Document. As a result, if there were no changes made to the EU legislation, UCITS would be subject to duplicative

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