EU Insurers Urge Rethink Of Investment Disclosure Rules

Law360, London (January 7, 2021, 1:42 PM GMT) -- European insurers warned on Thursday against a "quick-fix solution" for regulation of investment disclosure documents, describing it as potentially misleading for consumers.

Trade body Insurance Europe said officials in the bloc should instead take time to rethink rules for the three-page documents that fund managers are required to produce for packaged retail and insurance-based investment products, known as PRIIPs.

The Brussels-based business lobby has argued that the current rules for key information documents, referred to as KIDs, are too prescriptive and were not designed with insurers in mind. The trade body was responding to expectations that the European Commission is pressing the...

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