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ARTICLE · 29 MARCH 2018

Update On PRIIPS KIDs Since Implementation

Brodies LLP
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This is some added flexibility from the FCA that should be borne in mind by firms when preparing the KIDs.

United KingdomCorporate/Commercial Law
Barbara Jamieson
Barbara Jamieson

The Packaged Retail and Insurance-based Investment Products Regulation ("PRIIPS Regulation") requires product manufacturers to prepare Key Investor Documents ("KIDs") for all Packaged Retail and Insurance-Based Investment Products ("PRIIPS") that are offered to sale to retail investors in the EEA. This includes alternative investment funds ("AIFs") sold to retail investors. The PRIIPS level 2 text provides a set template which product manufacturers must follow when preparing the KIDs. The template requires various calculations to be undertaken which give performance scenarios and risk/reward indicators, and there is no flexibility with the strict requirements of the template (i.e. product manufacturers cannot amend the template if a section doesn't make sense for their particular product).

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