UCITS are currently exempted from having to produce a PRIIPs KID until 31 December 2019. However, agreement has been reached on a proposal to extend this exemption for UCITS by a further two years to 31 December 2021. The amendment was included in the proposed regulation on facilitating the cross-border distribution of collective investment funds, which received political agreement on 5 February 2019. It is expected that these legislative proposals on cross border distribution will be agreed by Q2 2019.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.