Today, MEPs passed a resolution calling for changes to the level 2 Regulatory Technical Standards (RTS) for PRIIPs, with 602 votes for, 4 votes against and with 12 voters choosing to sit out.

The European Parliament has now confirmed that the RTS is inadequate, with a focus on the future performance scenarios being problematic for investors.

Therefore the next step will be to draft a new RTS. However there was no delay in the original deadline of 31 December 2016.

Read the EU Parliament's Press Release.