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EU Backs Reprieve From Overlapping Fund Disclosure Rules

Law360, London (March 11, 2019, 2:32 PM GMT) -- European Union regulators have approved proposals to give investment managers a two-year reprieve from rules that will force them to duplicate information that they provide to investors, following pleas from the fund industry that the obligation will consume too much time.

The European Supervisory Authorities wrote to the European Commission on Friday to say they are happy with its plans to extend an exemption under the regulation for packaged retail and insurance-based investment products, known as PRIIPs, until the end of 2021. This will allow fund managers to continue producing only one key information document, which sets out the risks and...

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