Packaged Retail Insurance-based Investment Products (PRIIPs)

Published 06.02.2020

State of play: on 9 December 2014, the Regulation was published in the Official Journal (L 352/1), on 23 December 2016, the amended Regulation was published (L 354/35)

  • Link to ESAs Joint Committee PRIIPS Documents

Level 2

  • 10 November 2016, the Commission sent a letter to the ESAs on the proposed amendments to the draft RTS.
  • 10 February 2017, the ESAs launched a consultation on PRIIPs products with environmental or social objectives (EOS PRIIPs).
  • 8 March 2017, the Commission adopted a delegated regulation on key information documents (KID) for PRIIPs laying down regulatory technical standards.
  • 8 February 2019, the ESAs published the final report following the joint consultation on targeted amendments to the delegated regulation covering the rules on KID for PRIIPs.
  • 8 March 2019, the ESAs submitted to the Commission the draft RTS to amend the delegated regulation covering the rules on KID for PRIIPs.
  • 26 March 2019, the Commission opened a call for tender on “Consumer testing services – Retail investors’ preferred option regarding performances scenarios and past performance information within the KID under the PRIIPs framework”.
  • 23 May 2019, the ESAs proposed performance scenarios options for consumer testing under the Level 2 Review of the PRIIPs KID.
  • 7 June 2019, the Commission replied to the ESAs call of 19 July 2018 to clarify the scope of PRIIPs regulation.
  • 30 July 2019, the ESAs responded to the Commission on the exclusion of performance scenarios options to be tested during a consumer testing exercise conducted by the Commission under the Level 2 of the PRIIPs Regulation.
  • 16 October 2019, the ESAs launched a consultation on amendments to existing rules underpinning the KID for PRIIPs.
  • 21 January 2020, ESMA published the responses received to the joint consultation paper concerning amendments to the PRIIPs KID.
  • 21 January 2020, ESMA published the response of the Securities and Market Stakeholder Group to the ESAs joint consultation on the review of the PRIIPs KID.

Level 3

  • 1 October 2018, ESMA sent a letter to the Commission expressing the concerns regarding the possibility of duplicating information requirements for investment fund from 1 January 2020.
  • 19 July 2018, the ESAs published the flow diagram for the risk and reward calculations in the PRIIPs KID.
  • 8 February 2019, EIOPA published recommendations on changes to the PRIIPs KID.
  • 4 April 2019, the ESAs updated the Q&A on the PRIIPs KID.
  • 24 October 2019, the ESAs issued a supervisory statement in order to promote a consistent application by NCAs of the scope of the Regulation.

Next steps

  • A review of PRIIPs review was scheduled for the end of 2018, but it has been postponed by the Commission. As a consequence, the CBDF file has been used to introduce changes: UCITS KIID exemption extended for two years.
  • The PRIIPs consumer testing exercise result and review are expected for Q1 2020.
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