In part 1 of this article, we examined three of the six key areas of overlap between the regulations on PRIIPs and MiFID II/R.  In particular, we provided detail on, and discussed the degree of similarities between, the scope, the disclosure requirements for financial instruments and the obligations to identify a ‘target market’ between both


On 18 July 2016, the FCA produced a consultation paper (CP16/18) outlining suggestions on how to prepare the rulebook for the introduction of PRIIPS.  PRIIPS, which is designed to increase transparency of costs, risk and intended market, will take effect on 31 December 2016.  It requires each manufacturer and distributor of insurance-based investment products (IIP) or packaged


On 17 June 2016, the Council of the European Union approved a one-year delay to the MiFID II transposition and implementation dates.  Under the new regulation, the deadline for Member States to transpose MiFID II into national legislation is 3 July 2017 and the date of application for MiFID II/R is now set for 3


Earlier today, the European Commission published part of the long awaited Delegated Acts for MiFID II.  This was an unexpected move by as not many were expecting to see them in separate parts. This first set of Delegated Acts for MiFID II has been based on advice from ESMA and covers three topics; safeguarding of


The clampdown on mis-selling practices

On 24 February, the National Audit Office of the UK published the findings of a report carried out by the Comptroller and the Auditor General which looked at financial services mis-selling.  The definition of mis-selling is currently “a failure to deliver fair outcomes for customers” and this includes providing customers with misleading information or recommending


This week, the EU commission published the responses to their call for information on the impact of EU regulation so far.  The FCA’s response, also published this week, has been similar to other feedback in citing the constraints on both the banks and the real economy of financing themselves, overly complex reporting obligations and spill-over


10 key questions on the PRIIPs regulation

With members of the European Parliament Negotiating Team stating, in a letter addressed to Commissioner Hill, that they are “open to considering a wholesale delay of the application of MiFID II – MiFIR”, a delay to the new European market rules is now looking more likely than ever. But there are concerns that this potential


Seven requirements for the PRIIPs KID

The Joint Committee of the European Supervisory Authorities has published a consultation paper on 11 November 2015 which sets out the draft regulatory technical standards (RTS) concerning the Key Information Documents (KID) for PRIIPs. After much debate and the publication of a general discussion paper (November 2014) and a technical discussion paper (June 2015), the


JWG analysis. Fees and costs currently present themselves as the top controversial issues within the investment industry. The key challenges on this topic, bearing MiFID II in mind, were discussed by Aisha Dudhia (JWG Group), Steven Charlton (Vanguard Asset Management) and Bart Heenk (Avida International) at Professional Investor’s latest roundtable. This article offers answers to


MiFID II technical standards published

Today, ESMA has published the long-awaited MiFID II Technical Standards, leaving implementation teams across the industry with hundreds of pages to get to grips with.  The publication confirms that MiFID II will represent the biggest change to the regulatory framework in living memory.  It represents an extremely complex puzzle, but at least now we have