On the 20th of September, 24 EU member states requested a 12 month delay in the PRIIPs implementation. While all of the countries calling for a delay fully support the regulation and the aims behind PRIIPs in order to protect retail investors, some of the stumbling blocks that derailed the Level 2 regulatory technical standards (RTS) and the resulting lack of clarity on how to proceed with the implementation were cited as one of the major reasons for requesting the delay.

The countries that are a part of the objection are Germany, the United Kingdom, France, Austria, Croatia, Sweden, Ireland, Slovenia, Lithuania, Cyprus, Romania, Finland, Denmark, Portugal, the Netherlands, Malta, Estonia, Hungary, Greece, Belgium, Bulgaria, Latvia, Czech Republic and Slovakia.

We are currently waiting for determinations in regards to when the final decision will be made.

Please click here to read the objection.

Published: 28 September 2016