ESAs Publish Q&A on Key Information Document for PRIIPs in April 2019
ESAs published additional questions and answers (Q&A) on the Key Information Document (KID) requirements for Packaged Retail and Insurance-Based Investment Products (PRIIPs), as set out in the Delegated Regulation (EU) 2017/653, which was published on April 12, 2017.
The Q&A document includes answers to questions linked with the presentation, content, and review of the KID, including the methodologies underpinning the risk, reward, and costs information. The KID is a mandatory, three-page A4 information document to be provided to consumers before purchasing PRIIPs. PRIIPs include funds, structured products, unit-linked and with-profits life insurance contracts, and structured deposits. The questions in this Q&A were raised by different stakeholders, such as product manufacturers and distributors. ESAs will continue to answer further questions and will subsequently publish them. This Q&A document aims to promote common supervisory approaches and practices in the implementation of the KID and supplements the existing guidance materials published by ESAs. The KID needs to be provided by those who produce or sell investment products to consumers since January 01 2018.
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Keywords: Europe, EU, Insurance, PRIIPs, KID, Q&A, PRIIPs Regulation, EC, ESAs
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