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Postponement of PRIIPS regulation until 1 january 2018

01/01/2017

On 9 November 2016, the European Commission (EC) has issued a proposal of a Regulation – “quick fix” – to extend the date of entry in force of the PRIIPS Regulation by one year.

On 9 November 2016, the European Commission (EC) has issued a proposal of a Regulation – “quick fix” – to extend  the date of entry in force of the PRIIPS Regulation by one year.

Therefore, the delay gives issuers and distributors of PRIIPs products until 1 January 2018, instead of 1 January 2017, to put the provisions in place as soon as the new Regulatory Technical Standards (RTS) will be officially published. In parallel, draft of amended RTS have been sent by the EC to the European Supervisory Authorities (ESAs).The quick fix procedure requires a vote of the European Parliament and the Council to be legally enforced. Afterwards, the RTS will have to be adopted by the European Commission and subsequently have to be voted on by the European Parliament and the Council. The whole procedure is expected to be concluded on the first-half of 2017.