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What is “moderation”?  ESA comments on the Commission’s changes to the rejected PRIIPs’ RTS
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18 Jan
2017

What is “moderation”? ESA comments on the Commission’s changes to the rejected PRIIPs’ RTS

  • 18th January 2017
  • Kara Paslawska

In April 2016, European Supervisory Authorities (ESA) submitted a draft Regulatory Technical Standards (RTS) for Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation, focusing on the requirements of key information documents (KID).  Despite the KID RTS being endorsed by the EU Commission, the European Parliament – in a surprising move – rejected the draft.  It..

20 Sep
2016

KID Sent to the Naughty Corner- European Parliament rejects PRIIPS rules

  • 20th September 2016
  • Letitia Bolton

On the 14 September 2016 there was a staggering majority vote against the EU Commission’s Regulatory Technical Standards (RTS) for the PRIIPS key information document (KID), at 602 to 4, with 12 abstentions. The rejection by the Parliament of the implementation rules proposed by the Commission is unprecedented in the financial markets, and now it..

17 Aug
2016

6 key areas of overlap between PRIIPs and MiFID II – part 2

  • 17th August 2016
  • Aisha Dudhia

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..

28 Jul
2016

6 key areas of overlap between PRIIPs and MiFID II – part 1

  • 28th July 2016
  • Aisha Dudhia

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..

16 Dec
2015

10 key questions on the PRIIPs regulation

  • 16th December 2015
  • Aisha Dudhia

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..

10 Dec
2015
PRIIPs KID, PRIIPs KID requirements, PRIIPs KID template

Seven requirements for the PRIIPs KID

  • 10th December 2015
  • Aoife Quinn

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..