EUROPE: CESR Summary of Key Investor Information Proposals

Tuesday November 20 2007

CESR has published a Summary of key points for retail investors arising from its consultation on key investor information disclosures for UCITS. This can be found at the above link.

The background to this is that CESR published a consultation paper (CP) on 16 October 2007 setting out its proposals on key investor information (KII) disclosures for UCITS funds, which would replace the current Simplified Prospectus.

CESR has now produced this summary document to highlight the main points of interest in the CP from the perspective of retail investors, with a view to encouraging such stakeholders to respond to CESR’s consultation ahead of the deadline of 17 December.

The aim of the consultation is to help CESR decide on the content of the advice on KII that it will provide to the Commission in early 2008. The Commission will then carry out testing of

different options for KII with retail investors and other market participants. Retail investors are encouraged to use this summary paper as an aid to understanding the CP, but should note that it is not a comprehensive alternative to that document.

CESR are holding an Open Consultation on Key Investor Information on 23 November 2007.

Click on the above link for details.