On 5 August 2021, the European Commission issued for consultation a draft Directive amending the UCITS Directive as regards the use of key information documents by management companies of undertakings for collective investment in transferable securities. The draft Directive inserts a new Article 82a in the UCITS Directive. The Article provides that where a key information document is drawn up, provided, revised and translated for a UCITS pursuit to the Regulation on Packaged Retail and Insurance-based Investment Products, it should be considered as satisfying the requirements applicable to key investor information for the purposes of that Directive.

The deadline for comments on the consultation is 9 September 2021.

The draft Directive will enter into force on the day following that of its publication in the Official Journal of the European Union.