Hargreaves Lansdown has permanently removed US-domiciled exchange-traded funds (ETFs)from its Vantage platform as they do not meet PRIIPs documentation standards that came into effect on 1 January, while some investment trusts have been temporarily removed as they have not yet produced the necessary Key Information Documents (KIDs).
The European Union's Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation, which came into force yesterday, 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). This is a stand-alone, standardised document prepared for each investment, which can be up to a maximum of three sides of A4-sized paper. However, Hargreaves Lansdown removed all US-domiciled ETFs yesterday from its platform as they follow their own guidelines and do not meet the...
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