Thursday January 13 2022

News Source: Fund Regulation


Type: General

Country: European Union

The European Supervisory Authorities (ESAs) have organised an online public hearing on Friday 11 February 2022, from 09:30-16:30 CET to discuss the development of their draft Technical Advice to the European Commission regarding the PRIIPs Regulation.

Background information on the review of the PRIIPs Regulation

The review of the PRIIPs Regulation is part of the European Commission’s upcoming strategy for retail investments in Europe, which aims to ensure that retail investors can take full advantage of capital markets and that rules are coherent across legal instruments.

Taking into account Article 33 of the PRIIPs Regulation, the European Commission asked the ESAs in a Call for Advice in July 2021 to provide advice on various elements of the PRIIPs Regulation and to deliver their advice by 30 April 2022.

In order to gather input and views of external stakeholders the ESAs launched a Call for Evidence between October and December 2021. In this call, feedback was requested on the following topics:

  • General survey on the use of the KID
  • General survey on the operation of the comprehension alert
  • Survey on the practical application of the rules
  • Use of digital media
  • Scope of the PRIIPs Regulation
  • Differentiation between different types of PRIIPs
  • Complexity and readability of the KID
  • Performance scenarios and past performance
  • PRIIPs offering a range of options for investment (Multi-Option Products (“MOPs”))
  • Alignment between the information on costs in the PRIIPs KID and other disclosures

What is on the agenda?

During the public hearing the ESAs will present their preliminary views in relation to the feedback provided during the call for evidence and the areas to be addressed in the ESAs’ final advice.

A draft agenda will be made available shortly.

Who can attend?

Any one interested in this topic can attend the public hearing.

It will be particularly of interest to financial market participants, their representative associations, investor representatives or consumer bodies, and consultants or academics and representatives from the EU and national institutions.

How to register?

Registrations are open until Friday 4 February 2022 at 12:00 CET.

Register here.

Click on the link above for further information.