IA urges FCA to delay 'deeply flawed' PRIIPs extension

In response to the FCA's call for evidence on the regulation, which closed on 29 September, the IA urged the FCA to take a "customer-focused approach" to rectify issues that have arisen from its introduction. PRIIPs, which came into force for most fund products in January, requires asset managers to provide a Key Information Document (KID), which has been heavily criticised due to its controversial requirement to provide predictions of future performance as well as estimations of transaction costs. The performance predictions have been described as "misleading" to investors, while the...