Packaged Retail and Insurance-based investment products (PRIIPS)
On 20 October 2021, the European Supervisory Authorities (the ESAs) consulted the industry on PRIIPS regulation (answer for 16 December 2021).
On 20 December 2021, three texts were published in the Official Journal of the European Union:
Regulation (EU) 2021/2259 extending until 31 December 2022 the transitional regime applicable to management companies, investment companies and persons advising on, or selling, units of undertakings for collective investment in transferable securities (UCITS) and non UCITS. This text shall enter into force on the day following its publication.
Directive (EU) 2021/2261 which specifies that the PRIIPS KIID may be issued to any investor in place of the UCITS KIID, including a professional investor. Member States will transpose this directive into local law before 30 June 2022, and this text will apply from 1 January 2023.
And Delegated Regulation (UE) 2021/2268 modifying PRIIPS Regulatory Technical Standards (RTS) from 1st July 2022.