PRIIPS

The EU improves provisions of the information for investors.

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Since 2018, investors in the EU have received a basic information sheet with the most important features, such as the costs and risks of an investment, before purchasing a packaged retail and insurance-based investment product (PRIIPs; this includes funds, capital-forming life insurance policies and certificates). However, mutual funds may make an exception to this until the end of 2021. Until then, the established "key investor information" will apply to them. BVI has lobbied hard for this exception. The reason: deficiencies in the PRIIPs information sheets, especially in the specifications on costs and performance.

The European Commission is once again delaying the introduction of PRIIPs for funds

The European Commission published the regulatory details originally promised for June 2021 as late as the beginning of September 2021. This means that fund companies will no longer have sufficient time to implement the new regulations by the scheduled end of the exemption on 30 June 2022. BVI has been pointing out for years that at least twelve months are needed for a proper legal analysis and technical implementation of the PRIIPs information for thousands of UCITS.

In light of that delay, BVI calls for a further extension of the exemption for UCITS to produce the PRIIPs KID by six months until the end of 2022. Accordingly, the UCITS KID should be replaced by the PRIIPs KID on 1 January 2023. Furthermore, BVI advocates that no PRIIPs KIDs have to be provided for professional investors in the future.

News

 

Press Release

8/2/2021

PRIIPs: ESAs´ proposals improve information for investors

The German Investment Funds Association BVI welcomes the proposals of the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) to improve the...

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Regulations

24/4/2020

BVI: Include past performance in PRIIPs-KIDs

The EU is currently working on new technical regulatory standards to remedy the deficient PRIIPs key information documents, as requested by BVI.

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Positions

 

PRIIPs

9/9/2021

BVI’s position on the quick-fix amendments to the PRIIPs and UCITS frameworks

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PRIIPs

23/12/2019

Response form for the Joint Consultation Paper concerning amendments to the PRIIPs KID

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PRIIPs

27/9/2018

BVI’s response to the FCA Call for Input “PRIIPs Regulation – initial experiences with the new requirements”

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PRIIPs

24/9/2018

Adaptation of the calculation methodology for transaction costs under the PRIIPs Regulation: suggestions by BVI and EFAMA

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PRIIPs

8/5/2018

The exemption from scope of the PRIIPs framework for retail investment funds should be extended by another two years until 31 December 2021

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PRIIPs

23/3/2017

BVI’s response to the ESA’s consultation on EOS PRIIPs

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PRIIPs

26/1/2016

BVI’s response to the ESAs’ Joint Consultation Paper on PRIIPs Key Information Documents from 11 November 2015

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BVI's positions from A-Z

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