Level 2
The European Commission and the European Supervisory Authorities are required to produce certain delegated acts and technical standards (Level 2 measures) relating to the PRIIPs Regulation.
- Regulatory Technical Standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents - 08 March 2017, and
- Delegated Act on product intervention -14 July 2016.
Level 3 / Local Implementation
On 18 July 2016, the FCA issued a consultation on its plans to implement the PRIIPs Regulation, which provides some insight on its interpretation of the Regulation and RTS.
In May 2017, the FCA published its policy statement (PS17/6) on amendments to the disclosure requirements in the FCA Handbook to reflect the introduction of the PRIIPs Regulation.
The text of the final rules and guidance is set out in the Packaged Retail and Insurance-based Investment Products Regulation Instrument 2017 (FCA 2017/28). The rules come into force on 01 January 2018.
Please see here for the European Commission’s FAQ on KIDs for PRIIPs issued on 15 April 2014.
The European Supervisory Authorities’ Q&As on the PRIIPs KID were published on 04 July 2017 and are available here.
The European Supervisory Authorities’ supplementary Q&As on the PRIIPs KID were published on 18 August 2017 and are available here.
The European Supervisory Authorities’ supplementary Q&As on the PRIIPs KID were published on 20 November 2017 and are available here.
Further Level 3 FAQs are expected and will be uploaded as soon as they are issued.
This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.
Key contacts
If you have any questions, contact a member of the Level 2 and Level 3 / Local Implementation team for assistance:
