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On November 142022, the European Supervisory Authorities (ESA) published an updated version of the Questions and Answers (Q&As) on the PRIIPs Key Information Document. This includes new Level 3 PRIIP regulatory updates related to the EU PRIIPs RTS 2.0 amendments introduced in Commission Delegated Regulation (EU) 2021/2268, which will apply from January 1, 2023.
The new Q&A document content contains guidelines that refer both to the new EEU) 2021/2268 RTS, as well as the existing (old) RTS – (EU) 2017/653. A revision before 1January 2023 is, however, targeted to update sections which may not be relevant anymore past this date.
As the new PRIIPs RTS 2.0 requirements’ main focus is the KIDs for UCITS and AIFs, it is not surprising that the ESA new guidelines add clarifications mainly in relation to application of the new RTS for this category of PRIIPs.
Asset managers can find extensive details and clarifications in relation to all new requirements for the KID in the context of UCITS and AIFs:
For derivative manufacturers like structured products and OTCs manufacturers, there are less new clarifications:
cleversoft Regulatory Watch team is analyzing all new details to ensure that our PRIIP services are fully compliant as of January 12023. If you are interested in learning more about the cleversoft PRIIP services or in case you have any questions about them, please do not hesitate to contact us.