European Union:
Council Of EU Postpones PRIIPS Regulation By One Year
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On December 8, 2016, the Council of the EU announced that it has
adopted a Regulation postponing the application date of the
Regulation on key information documents
(KIDs) for packaged retail and insurance
based investment products
("PRIIPs"). (Regulation 1286/2014) (PRIIPs Regulation).
The PRIIPs Regulation will now apply from January 1, 2018 rather
than December 31, 2016.
In the Council's press release on December 8, 2016, the
Council explained that the delay will enable regulatory
technical standards (RTS) to be defined,
leaving enough time for the industry to adapt to the new rules.
The Council published a document (PE-CONS 51/16) setting out the text of the
Regulation postponing the application of the PRIIPs Regulation.
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