Insurers Concerned Over EU Review Of Investment Products
Law360, London (January 13, 2020, 3:58 PM GMT) -- Europe’s top market regulators must ditch their quick-fix approach to amending controversial disclosure rules for investment products, an insurance lobby group said Monday as it raised “serious concerns” about failures to tackle underlying problems.
Insurance Europe has criticized a review by the European’s Union’s top banking, securities and insurance regulator. Planned changes would impose higher compliance costs rather than address flaws in requirements for uniform disclosure in packaged retail and insurance-based investment products, known as PRIIPs, the group said.
Disclosure is done via so-called key information documents, which are designed to provide a short, consumer-friendly summary to help investors understand rewards...
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