Industry Lukewarm on ‘Quick Fixes’ to PRIIPs Rules
Many fear performance scenarios will remain misleading and expose providers to mis-selling claims.
The worst kind of rules must be those that achieve the opposite of what their designers intended. The European Union’s (EU’s) disclosure requirements for retail investment products fit that description—and, after months of calls for change, regulators are finally taking action.
The trio of the bloc’s top financial supervisors have put forward amendments to rules on key information documents (KIDs) mandated for packaged retail and insurance-based investment products (PRIIPs), including steps to
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