The EU Regulation on key information documents for Packaged Retail and Insurance-based Investment Products aims at increasing investor protection by obliging manufacturers and distributors of retail structured products (i.e. fund managers, insurance undertakings, credit institutions and investment firms), insurance-based investment products and investment funds to produce a pre-contractual Key Information Document or KID.

The PRIIPs Regulation sets out the rules for the content and format of the KID, as well as for its review and timing of delivery. In addition, any person advising on or selling a PRIIP, which may be the PRIIP manufacturer itself for direct sales or distributors and intermediaries for indirect sales, also has to comply with the PRIIPs KID regime.

PRIIPs include packaged retail investment products as well as insurance-based insurance products. The two elements of a PRIIP are that (i) the returns of a PRIIP are exposed to uncertainty or fluctuations and (ii) the fact that there should be some form of packaging or indirectness.

The main objective of the PRIIPs regime is to ensure that investors are adequately informed about the characteristics of the product to enable them to make an informed investment decision and further that they are treated fairly by product distributors.

The PRIIPs regulation came into force on 29 December 2014 and applies since 1 January 2018. By 31 December 2018, the European Commission must have reviewed the PRIIPs regulation.


Association des Banques et Banquiers, Luxembourg


12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.