ESAS REFER STAKEHOLDERS TO COMMISSION STATEMENT ON THE APPLICATION DATE OF NEW PRIIPS RULES

(Source: ESMA)

The European Supervisory Authorities (ESAs) would like to draw the attention of stakeholders to a Statement by the European Commission concerning the application date of new rules for the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs).

The Statement of the European Commission confirms that it is intended:

  • for the rules for the KID in Delegated Regulation 2017/653 to continue to apply until 31 December 2022, including the ability to use the Key Investor Information Document (KIID) to provide specific information about UCITS offered as underlying investment options,
  • and for the new rules included in Delegated Regulation 2021/2268 to amend Delegated Regulation 2017/653 to apply from 1 January 2023.

The ESAs expect National Competent Authorities to take the Statement from the European Commission into account during their supervision of PRIIPs.

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