At the meeting of the European Parliament’s Economic and Monetary Affairs Committee (ECON) on 19 November 2018, a European Commission spokesperson said that they are prepared to accept the proposed time extension on UCITS KIID.
UCITS exemption from the PRIIPs Regulation is currently available until 31 December 2019, but the European Commission statement means that it could be extended to 31 December 2021.
On 8 November 2018, the European Supervisory Authorities (ESAs) issued a joint consultation paper concerning amendments to the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
The proposed amendments are related to:
- Performance scenarios
- Other specific amendments
- Amendments arising from the possible end of the exemption in Article 32 of the PRIIPs Regulation
Stakeholders have an opportunity to comment on the proposed amendments to the PRIIPs Delegated Regulation. Comments can be sent to ESAs by 6 December 2018.
One of the changes introduced by the new European regulation is a distrinct separation between investment research fees and trade execution fees.
Veneziano & Partners have discussed the various aspects of MiFID II unbundling for U.S. market participants.
During the first 6 months of 2018, PRIIPsHub has executed a very successful implementation of its MiFID and PRIIPs related data collection services.
The implementation has included adding well over 100 distributors, including banks, fund of funds, platforms, insurance companies and wealth managers, consuming a variety of MiFID and PRIIPs related information. PRIIPsHub currently has over 90.000 EMTs in its database, along with over 42.000 EPTs and a wide variety of documents, including both KIIDs and KIDs, spanning a wide range of product types and from a wide variety of jurisdictions.
PRIIPsHub has also successfully implemented data and document push services for its asset manager clients, who are providing EMTs, EPTs and documents to over 150 recipients throughout Europe in most of the major countries.
If your company is looking for customized data or document collection services that can incorporate both UCITS, and different types of PRIIPs products in any relevant jurisdiction, contact us at [email protected] or call +45 2250 6867 for further details.