'Concrete evidence' needed on PRIIPs 'flaws' - ESMA chief

The European Union's Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation, which came into force on 1 January 2018, is aimed at helping retail investors better understand and compare the key features, risks, rewards and costs of different products through a short Key Information Document (KID). However, the industry has been critical of the new regulations, including the methodology for calculating transaction costs to be included in KIDs. These have previously been described by the Investment Association as "exceptionally difficult for customers to understand" ...