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Members of the European Parliament (MEPs) adopted on Wednesday a resolution* calling for changes to the legislation covering Packaged Retail and Insurance-based Investment Products (PRIIPs). It is now expected that the European Commission submits a new version of the regulatory technical standards (RTS), because the resolution means that the draft RTS will not enter into force in their current form.
Marc-André Bechet, Director Legal Tax of ALFI says : "We welcome the support expressed by parliamentarians for clearer rules at level 2. In May the European Fund and Asset Management Association (EFAMA) highlighted the need to disclose past performance to investors and also outlined major issues linked to the current calculation and presentation of (transaction) costs...
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