EUROPEAN UNION: EFAMA Welcomes Delay to the Application of the PRIIPs Regulation

Thursday November 10 2016

The European Fund and Asset Management Association (EFAMA) has welcomed the announcement from the European Commission to delay the application of the PRIIPs Regulation by 1 year, to 1^st January 2018.

EFAMA considered a delay essential because it was materially impossible and unrealistic for product manufacturers and distributors to meet the 31^st December 2016 deadline. EFAMA believes that the revised RTS should allow past performance to be considered and fix what they consider to be misleading methodology for calculating transaction costs to ensure the KID’s success.

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