ARTICLE
27 July 2017

PRIIPS: ESAs' Q&A And EU Commission's Guidelines

EH
ELVINGER HOSS PRUSSEN, société anonyme

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Independent in structure and spirit, Elvinger Hoss Prussen guides clients on their most critical Luxembourg legal matters. Committed to excellence and creativity in legal practice, our firm delivers the best possible advice for businesses, institutions and entrepreneurs, playing a unique role in the development of Luxembourg as a financial centre.
On 4 July 2017, two long-awaited PRIIPs documents were published by the EU authorities:
European Union Finance and Banking

On 4 July 2017, two long-awaited PRIIPs1 documents were published by the EU authorities:

  • The first is a Communication from the EU Commission which includes Guidelines  on the level 1 PRIIPs Regulation ((EU) 2014/1286). The objective of these Guidelines is to facilitate the implementation of, and the compliance with, PRIIPs Regulation by clarifying the interpretation of a few level 1 requirements (including scope, multi-option PRIIPs and territorial scope).
  • The second is a Q&A published by the ESAs (European Supervisory Authorities: EBA, EIOPA and ESMA) in relation to the PRIIPs Delegated Regulation ((EU) 2017/653). The Q&A aims at promoting common supervisory approaches and practices in the implementation of the key information document (KID). It relates to the technical methodologies on risk, performance scenarios, and cost disclosure requirements. It also addresses specific issues in relation to e.g. derivatives or multi-options PRIIPs.

Footnote

1. "PRIIPs" refers to packaged retail and insurance-based investment products.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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