View more on these topics

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 month.

Previous objections included disclosure standards on past performance and how different providers would be treated under the rules.

Member states say delaying implementation by a year would give sufficient time to provide clearer information of the regulation’s scope.

Brown Brother Harriman Fund Administration Services senior vice president Sean Tuffy says he is “cautiously optimistic” on a likely delay given the lack of time for the Commission to redraft its proposed rules ahead of a 31 December deadline.

He also says there is “a good argument” for aligning the Priips implementation with Mifid II.

Law firm CMS funds partner Cathy Pitt says delaying the implementation seems the only realistic option.

She says: “Implementation of the Priips regulation without the unifying technical standards would carry significant risk to both investors and firms and would not achieve the intended benefit of harmonising investor disclosure to enable comparison of different products.”



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 […]


Raft of objections set to delay Priips rules

MEPs and industry bodies are pushing for changes to key information documents under Priips in a bid to deliver greater transparency for retail investors. A draft motion for resolution from the European Parliament’s Economic and Monetary Affairs committee, which will object to proposed regulatory technical standards for retail investors set by the EU Commission, is […]


Fund passporting rules offer post-Brexit blueprint

The European Securities and Markets Authority has extended the passporting rules for several non-EU countries, which experts say could be a blueprint for the UK once it leaves the Europen Union. Esma’s long-awaited passporting rules means asset managers based outside the EU would continue offering services to investors across Europe, replacing the previous system of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm