EU Regulators Bash Unclear Investment Product Descriptions
By Irene Madongo (May 11, 2022, 2:58 PM BST) -- European Union regulators have urged finance companies to avoid jargon when describing retail investment products to consumers, saying unclear language make it hard for investors to understand important features.
The European Supervisory Authorities published a joint statement on Tuesday setting out their expectations of the information section of packaged retail and insurance-based investment products, or PRIIPs. The authorities are the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority.
The regulators said they have spotted a general lack of clarity in the text of how PRIIPs manufacturers describe their products. This, they said, "makes...
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