On 2 August 2021, the European Securities and Markets Authority published the call for advice that the Joint Committee of the European Supervisory Authorities (ESAs) had received from the European Commission regarding the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs Regulation).
The Commission invites the Joint Committee to provide advice on the following areas concerning the PRIIPs Regulation:
- A general survey on the use of the PRIIPs key information document across the
- A general survey on the operation of the comprehension alert, taking into account any guidance developed by Member State competent authorities in this respect.
- A survey of the practical application of the rules laid down in the PRIIPs Regulation.
- An assessment of the effectiveness of the administrative sanctions, measures, and other enforcement actions for infringements of the PRIIPs Regulation.
- An assessment of the extent to which the PRIIPs Regulation is adapted to digital media.
- An examination of the following questions concerning the scope of the PRIIPs Regulation:
- whether the exemption of the products referred to in Article 2(2) points (d), (e), and (g) of the PRIIPs Regulation from the scope of PRIIPs should be maintained, in view of sound standards for consumer protection, including comparisons between financial products; and
- whether the scope of the PRIIPs Regulation should be extended to additional financial products.
The Commission asks the ESAs to deliver their advice by 30 April 2022.