EU Drops Changes To PRIIPs Disclosure Rules After Outcry

Law360, London (February 8, 2019, 7:00 PM GMT) -- European regulators said on Friday that they have abandoned amendments to the bloc's controversial rules on disclosure for packaged investment products because the industry has rejected the changes.

The European Supervisory Authorities — the European Union's top banking, securities and insurance regulators — said that investment funds do not support the regulators' proposed improvements to so-called key information documents, or KIDs, which contain data on the expected performance of a product.

KIDs are a requirement under EU rules on packaged retail and insurance-based investment products, or PRIIPs, that went live in January 2018. The documents detail the risks and benefits of...

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