Earlier this year, we informed our clients when the European Supervisory Authorities (ESAs) submitted a draft Regulatory Technical Standards (RTS) to the EU Commission, combining regulatory technical standards developed under Articles 8(5) and 10(2) of Regulation (EU) No 1286/2014. Later on, we notified clients about the proposal of the EU Commission to amend Regulation (EU) No 1286/2014 to include an extension to July 01st, 2022. On September 7th, 2021, the EU Commission has published the final amendments of the Delegated Regulation to the PRIIPs-Regulation1. The revised specifications for the content of the PRIIPs-KIDs are specified in the associated annexes2. According to the proposal of the EU Commission, the regulations will take effect on July 1st, 2022.
One important side note is, this delegated regulation is accompanied by amendments to Directive 2009/65/EC6 in order to avoid, that investors receive two pre-contractual disclosure documents from July 01st, 2022, i.e. the PRIIPs KIDs and the ‘key investor information document’ (KIID) required by that Directive.
Cleversoft will make a detailed analysis on the final amendments as well as the impact for the industry and for cleversoft’s service offerings including delivery timeline for adaptation of the following affected services:
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