Packaged Retail and Insurance-based Investment Products (PRIIPs)—essentials
Published by a LexisPSL Financial Services expert

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Packaged Retail and Insurance-based Investment Products (PRIIPs)—essentials
  • The PRIIPs Regulation, level 2 measures, UK implementation and Brexit
  • Level 2 Measures
  • UK implementation
  • Brexit and divergence
  • Scope of the PRIIPs regulation
  • Meaning of ‘PRIIPs’
  • PRIIP manufacturer (or advising on or selling PRIIPs)
  • Meaning of 'retail investors'
  • Obligations under the PRIIPs Regulation
  • More...

Packaged Retail and Insurance-based Investment Products (PRIIPs)—essentials

The PRIIPs Regulation, level 2 measures, UK implementation and Brexit

The purpose of this Practice Note is to provide an overview of PRIIPs Regulation (Regulation (EU) 1286/2014) on Packaged Retail and Insurance-based Investment Products (PRIIPs) and related Level 2 measures, as well as the UK PRIIPs regime. At the core of the PRIIPs Regulation is a requirement for product manufacturers to produce a standardised, pre-investment Key Information document (KID) for PRIIPs to help retail investors to compare different PRIIPs and make an informed decision on whether a PRIIP is right for them. The concept is not new, being largely derived from the undertakings for collective investment in transferable securities (UCITS) Key Investor Information Document (KIID).

Regulation (EU) 1286/2014 was published in the Official Journal of the European Union (OJ) on 9 December 2014 and applied from 1 January 2018, although there is an exemption for UCITS until 31 December 2022. This exemption also applies to those non-UCITS retail funds (NURS) which prepare a UCITS KIID (Article 32(2) of Regulation (EU) 1286/2014). This extended exemption (which originally was due to expire on 31 December 2021) is covered in Article 32(1) of the PRIIPs Regulation, as amended by Article 1 of Regulation (EU) 2021/2259. For further information, see news: Amendments to EU PRIIPs Regulation, EU UCITS Directive and RTS on contents of

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