An online public hearing will be organised by the European Supervisory Authorities (ESAs). The development of their draft Technical Advice to the European Commission regarding the PRIIPs Regulation will be discussed on 11 February.
The hearing will be dedicated to the presentation of the preliminary views concerning the feedback provided during the call for evidence (launched between October and December 2021) and the areas to be addressed in the ESAs’ final advice. Registrations are open until 4 February and are available for anyone interested in attending the public hearing.
Read more here.
The call for evidence follows the European Commission's request closely connected to its Capital Markets Union Action Plan and future strategy for retail investments in Europe.
The ESAs address stakeholders with the key questions and touch a wide range of topics is in the survey (the practical application of the existing KID: its use by financial advisors, the use of digital media, the scope of the PRIIPs Regulation, the degree of complexity, and readability of the KID).
Respond here.
Amendments to the UCITS regulation:
1. The UCITS KIIDs exemption for switching to a PRIIPs KID has been extended to 31 December 2022, meaning UCITS funds will have an additional 6 months before having to produce a PRIIPs KID.
2. Non-retail funds, investment companies and management companies should continue to provide an UCITS KIID, unless they decide to provide a PRIIPs KID, in which case they do not have to create an UCITS KIID anymore.
Read more here.
Amendments to the PRIIPs regulation:
1. The UCITS exemption date has been changed to "31 December 2022".
2. The European Commission is expected to submit as a matter of urgency a report on criticism to the PRIIPs regulations, together with proposals to address the limitations, where possible.
Read more here.
Amendments to the UCITS regulation:
The topics raised in the Q&A document introduce common supervisory approaches and practices in the application of MiFID II / MiFIR in relation to investor protection matters.
A new question included in the Q&A relates to whether bonds with a make-whole clause should be exempted from MiFID II product governance requirements.
Read more here.