PIMFA clashes with IA over PRIIPs extension

PIMFA's position is at odds with that of the Investment Association (IA), which on Tuesday (2 October) called on the Financial Conduct Authority (FCA) to delay the extension until the "deeply flawed" regulation could be reassessed and reformed. PRIIPs, which came into force for most fund products in January, requires asset managers to provide a Key Information Document (KID), a move that 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 describ...