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One of the most significant issues currently facing the financial services sector is the draft Regulatory Technical Standards (“RTS”) for the Key Information Document (“KID”) for Packaged Retail and Insurance Investment Products (“PRIIPS”), issued by the joint European Supervisory Authorities in April 2016.
AILO recently wrote to Commissioner Lord Jonathan Hill, Member of the European Commission Financial Stability, Financial Services and Capital Markets Union requesting the amendment of the draft regulatory technical standards (RTS) on the grounds of the questionable legal basis, disproportionate information requirements, unrealistic timetable and consumer confusion. The PRIIPS journey started over nine years ago and AILO has constantly been active in endeavouring to...
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