On 3 July 2019, the European Commission adopted a Delegated Regulation which lays down a transitional arrangement under Delegated Regulation (EU) 2017/653 that is consistent with the extended transitional arrangement in Regulation (EU) No 1286/2014. It allows manufacturers of packaged retail and insurance-based investment products (PRIIPs) that offer investment funds as the only underlying investment options, or alongside other investment options, to continue using, for the purposes of drawing PRIIPs key information documents, key investor information documents drawn up in accordance with Articles 78 to 81 of the UCITS IV Directive in respect of such funds.
The Delegated Regulation does not alter the substance of the PRIIPs Delegated Regulation but amends the transitional arrangements for certain firms and persons by two years, to 31 December 2021.
The Delegated Regulation to be considered by the European Parliament and Council of the EU. It states that it will enter into force 20 days after its publication in the Official Journal of the EU.