Gov't Floats Changes To Investment Disclosures After Brexit
Law360, London (July 31, 2020, 2:27 PM BST) -- The U.K. government has proposed changes to unpopular disclosure documents, which investment firms must issue under European Union rules, in a bid to make information on a fund's performance less misleading to retail clients after Brexit.
HM Treasury on Thursday floated amendments to how the U.K. will follow the bloc's packaged retail and insurance-based investment products regulation, known as PRIIPs, once Britain leaves the EU in December.
The bloc's 2018 regime forces asset managers to provide details to investors about how they expect products to perform in so-called key information documents. But the financial sector has warned that confusing, unreliable and...
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