After one false start, the PRIIPs Regulation will finally become effective at the beginning of 2018 and will herald a new approach for pre-contractual disclosure in the form of a Key Information Document (KID) in relation to retail packaged investment products. The Regulation will impact upon many different types of product including transferable securities, derivatives, funds, structured products and insurance-based products. Although many firms have already undertaken significant work to be ready to comply with the new rules in 2018, significant challenges remain. Not least of these, the “level 3” guidance, to be in the form of Q&As which is expected to provide important assistance in the preparation of KIDs has not yet been published.
During the presentation, we will highlight: