European Commission confirms one-year delay to PRIIPs implementation

Following a debate, the College of Commissioners voted to delay the implementation of Packaged Retail and Insurance-based Investment Products (PRIIPs) legislation from its previous implementation date of 31 December 2016. It comes after European Parliament (EP) rejected the regulatory technical standards (RTS) governing PRIIPs Key Information Documents (KIDs) in early September. The Commission said the European Supervisory Authorities controlling the RTS redraft now have six weeks to resubmit their amendments to the EC. It added that it expects the revised PRIIPs framework to be in pl...