Released 20 July 2021
The Financial Conduct Authority (FCA) has proposed changes to clarify disclosure documents provided to retail investors under the Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation.
The proposed changes aim to provide more clarity to consumers about what the products are, the risk presented and information to help understand likely future performance.
Those who produce, advise on or sell PRIIPs are required to provide a Key Information Document (KID) about the product they are selling. However, for some products the KID has potential to contain misleading information.
The proposed rule changes will give firms greater flexibility to ensure that they provide information which is understandable and helps consumers make properly informed decisions.
Comments are requested by 30 September 2021.
Further details can be found at: https://www.fca.org.uk/news/press-releases/fca-consults-post-brexit-divergence-priips-regulation.