EUROPEAN UNION: Decision on Entry into Application of PRIIPs Regulation Delayed

Tuesday October 18 2016

The European Commission is to delay discussion of whether the introduction of packaged retail and insurance-based investment products (PRIIPS) legislation should be delayed until November 22, five weeks prior to its proposed implementation date.

When the legislation’s controversial regulatory technical standards (RTS) suffered a landslide defeat in the European Parliament in September, key industry figures urged the Commission to put its introduction on hold.

If the original implementation date of December 31 this year stands, asset management firms will face significant challenges to ensure their businesses and products are compliant – and little time in which to implement the necessary internal changes.

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