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EU to delay Priips regulation until 2018


The European Commission has decided to delay the introduction of its Priips regulation by one year, Money Marketing understands.

The European Commission is understood to have announced a 12-month delay of the directive today in a meeting with a Council Working Group.

The Commission will publicly announce the decision on 9 November, despite previously announcing a debate would take place on the 22 November.

The decision comes after months of debates, which culminated in the vote from the European Parliament to reject the current regulatory technical standards for the implementation of Priips’ Key Information Document.

A one-year delay to the directive has already been supported by most of the EU members, including the UK, France, Germany, and Ireland.

A European Commission spokesman said the commission could not comment “at this stage”.

Priips, which will apply to a wide range of firms, including banks, insurers, and investment managers. aims to extend Mifid II standards on consumer protection to insurance-based investment products.

In July, MEPs already objected to the KID rules as being misleading for investors.

A group of asset managers, including BlackRock and Schroders, have also written to the Commission asking to it rethink about excluding past performance data within the KIDs.



Apfa: Advisers need to prepare for Priips

Advisers need to be aware of and prepare for the impending confusion coming from the European Union. No, not Brexit but Priips: the regulation due to come into force on 31 December. It mandates a new disclosure document that product providers must create and advisers must give to clients. As a regulation, it has direct […]


European Parliament rejects Priips disclosure rules

The European Parliament has voted to reject the current regulatory technical standards for the implementation of Priips’ Key Information Document. The Commission and Council have now been called to discuss and possibly redraft the standards which could consequently delay Priips’ start date expected for December. The vote follows a recent debate in parliament which called […]


Hopes pinned on one-year Priips delay

EU member states have backed a 12-month delay to the Priips implementation date as regulatory experts argue the European Commission should not rush in redrafting the rules. Yesterday 23 out of 28 EU members, including the UK and Germany, asked the Commission to delay the implementation of Priips after draft rules were rejected earlier this […]

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There is one comment at the moment, we would love to hear your opinion too.

  1. Christopher Lean 27th October 2016 at 5:25 pm

    Another 12 months of hidden commissions by non-UK QROPS salesmen, getting around the investment rules by using an IMD licence.

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