The European Banking Federation, Insurance Europe, the European Fund and Asset Management Association and the European Structured Investment Products Association have published a letter addressed to Jonathan Hill, the European Commissioner for Financial Stability, Financial Services and Capital Markets Union requesting a one year delay of the entry of application of the Regulation on key information documents (KID) for packaged retail and insurance-based investment products (PRIIPs). The financial associations are concerned that if the final regulatory technical standards relating to the KID are not officially published until Q3 2016, it will only leave three to four months for product manufacturers and distributors to meet the 31 December 2016 deadline to provide the PRIIPs KID.

View European financial associations call for one year delay of application of PRIIPs Regulation, 3 May 2016