The Council of the EU has published an “I” item note relating to the proposed Regulation on key information documents for packaged retail investment products (the PRIPs KID Regulation). The General Secretariat of the Council now invites the Permanent Representatives Committee (COREPER) to:
- approve the final compromise text of the PRIPS KID Regulation; and
- confirm that the Council’s Presidency can indicate to the European Parliament that, if the Parliament adopts its position at first reading as regards the PRIPS KID Regulation in the form set out in the Annex (subject, if necessary, to revision of that text by the legal linguists of both institutions), the Council will approve the Parliament’s position and the PRIPS KID Regulation would be adopted accordingly.
The Parliament is expected to adopt the PRIPS KID Regulation at its second plenary session, to be held from 14 to 17 April 2014 (the last plenary session of the current European legislature), after which, it would be formally adopted by the Council.
