PRIIPs KID: Another Chapter In A Never-ending Story

Implementation timeline proposed to be set to 1 January 2023

On 22 October 2021, the European Parliament's ECON Committee, by way of simplified procedure, approved two legislative proposals: one to further extend the implementation of the revised amendments to the Delegated Regulation governing the format and content of the PRIIPs KID ("Delegated Regulation") to 1 January 2023 and one to further extend the exemption for UCITS having to provide a PRIIPs KID to 1 January 2023. The two legislative proposals follow a respective draft compromise proposed by the Presidency of the Council of the EU on 17 September 2021. The new implementation timeline was heavily lobbied for by the fund industry. It reflects the industry's need for sufficient time to adapt its operations surrounding the issuance of key investor documents.