The European Supervisory Authorities published the first set of Questions and Answers related to the Key Information Document requirements for Packaged Retail and Insurance-based Investment Products (PRIIPs) laid down in the European Commission Delegated Regulation (EU) 2017/653.
The KID is a mandatory, three-page A4 information document to be provided to consumers before purchasing a Packaged Retail and Insurance-based Investment Products (PRIIPs). PRIIPs include for example funds, structured products, unit-linked and with-profits life insurance contracts, and structured deposits. The KID will need to be provided from 1 January 2018.
This Q&A document aims at promoting common supervisory approaches and practices in the implementation of the KID.
The Q&A document includes answers to questions linked with the presentation, content and review of the KID, including the methodologies underpinning the risk, reward and costs information. These questions were raised by different stakeholders, such as product manufacturers and distributors.
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