PRIIPs Regulation and its Implementation: Consequences and Challenges
Emilia Petrocelli, Senior Compliance Officer, Mediobanca SpA, Italy
From 31 December 2016, manufacturers and distributors of packaged retail and insurance-based investment products (PRIIPs) will have to comply with the Regulation on Key Information Documents for Packaged Retail and Insurance-based Investment Products , the PRIIPs KID Regulation, which came into force in all EU member states on 29 December 2014. The PRIIPs KID Regulation obliges manufacturers of PRIIPs, such as fund managers, insurance companies, credit institutions and investment firms, to produce a clear, concise document – the Key Information Document or KID – where such products are targeted at retail investors, and sets out rules for the content and format of the KID, as well as for its review and the timing for delivery.
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