On 8th November, the EU Commission published the Commission Delegated Regulation (EU) 2019/1866 amending Article 18 of Delegated Regulation (EU) 2017/653 supplementing the Regulation on key information documents for packaged retail and insurance-based investment products (PRIIPs).
This development lays down regulatory technical standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents (the Delegated Regulation 2017/653).
The PRIIPs Regulation has been amended to extend the transitional arrangements referred to in Article 32 thereof until 31 December 2021. In order to enable to PRIIP manufacturers to determine their obligations with certainty, the date set out in the third paragraph of Article 18 of Delegated Regulation 2017/653 is being changed accordingly.
The Delegated Regulation will enter into force on the twentieth day following its publication in the Official Journal.
Firms are advised to discuss internally, updating Executive / Board colleagues, as applicable. Firms should also consider whether an update to procedures is required.
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Please Note: This publication is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Readers should take legal advice before applying the information contained in this publication to specific issues or transactions.
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