From 1 January 2017 anyone advising on or selling PRIIPs in the EU will be required to provide a key investor document (KID) to retail investors
The regulatory framework and detail to support the implementation of the PRIIPs regulation is gathering pace. The PRIIPs regulation is due to become effective on 1 January 2017. On 30 June 2016, the European Commission adopted a regulatory technical standard (RTS) on the PRIIPs key investor document, or KID. This regulatory technical standard (RTS) was drafted by the European Securities and Markets Authority (ESMA), European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA), jointly called the European Supervisory Authorities (ESAs).
On 11 July, there was an open hearing meeting with the European Commission and ESAs. The links to this open hearing and an overview of the RTS are below: