The European Commission has adopted a Delegated Regulation supplementing the Regulation on key information documents (KID) for packaged retails and insurance-based investment products (PRIIPs) with regard to product intervention. Article 16 and 17 of the PRIIPs. The Delegated Regulation sets out the criteria and factors to be taken into account by the national competent authorities and European Insurance and Occupational Pensions Authority when intending to use their product intervention powers in case of significant investor protection concern or threat to the orderly functioning and integrity of financial markets or to the stability of the whole or part of the financial system of the Union or respectively or at least one Member State. The Delegated Regulation is subject to scrutiny by the Council of the EU and the Parliament. If neither of them objects, the Regulations will enter into force 20 days after their publications in the Official Journal of the EU and will apply from 31 December 2016.
Commission adopts Delegated Regulation supplementing PRIIPs Regulation regarding product intervention
Posted in Italy, Retail, Retail, Retail, The Netherlands, United Kingdom
