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2016/0355(COD) Key information documents for packaged retail and insurance-based investment products (PRIIPs): date of application of the Regulation

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON BERÈS Pervenche (icon: S&D S&D) PIETIKÄINEN Sirpa (icon: PPE PPE), KAMALL Syed (icon: ECR ECR), JEŽEK Petr (icon: ALDE ALDE), GIEGOLD Sven (icon: Verts/ALE Verts/ALE)
Committee Opinion IMCO
Committee Opinion LIBE
Lead committee dossier:
Legal Basis:
TFEU 114

Events

2017/01/11
   PT_PARLIAMENT - Contribution
Documents
COM(2016)0709
2016/12/23
   Final act published in Official Journal
Details

PURPOSE: to defer the date of application of Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products.

LEGISLATIVE ACT: Regulation (EU) 2016/2340 of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products as regards the date of its application.

CONTENT: the Regulation defers the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 .

As a reminder, Regulation (EU) No 1286/2014 requires manufacturers of packaged retail and insurance-based investment products (PRIIPs) to produce a Key Information Document (KID) in order to enhance investor protection and increase transparency in the retail investment market.

On 30 June 2016, the Commission adopted a delegated regulation supplementing Regulation (EU) No 1286/2014 which specifies the presentation and the content of the KID.

On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014.

A deferral of 12 months will give additional time for those concerned to adhere to the new requirements.

ENTRY INTO FORCE: 24.12.2016.

Documents
Regulation 2016/2340
OJ L 354 23.12.2016, p. 0035
2016/12/14
   CSL - Draft final act
Documents
00051/2016/LEX
2016/12/14
   IT_SENATE - Contribution
Documents
COM(2016)0709
2016/12/14
   CSL - Final act signed
2016/12/12
   EP - End of procedure in Parliament
2016/12/08
   EP/CSL - Act adopted by Council after Parliament's 1st reading
2016/12/08
   CSL - Council Meeting
2016/12/01
   EP - Results of vote in Parliament
Documents
Results of vote in Parliament
2016/12/01
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 561 votes to 9, with 75 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products as regards the date of its application.

Parliament’s position, adopted at first reading following the ordinary legislative procedure, seeks to defer the date of application by 12 months, until 1 January 2018 of Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs).

Regulation (EU) No 1286/2014 introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products to produce a key information document ('KID').

On 30 June 2016, the Commission adopted a delegated regulation supplementing Regulation (EU) No 1286/2014 which specifies the presentation and the content of the KID and its standardised format, the methodology underpinning the presentation of risk and reward and the calculation of costs, the conditions and the minimum frequency for reviewing the information contained in the KID and the conditions for fulfilling the requirement to provide the KID to retail investors.

On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission. Together with a large majority of Member States, Parliament called for a deferral of the date of application of Regulation (EU) No 1286/2014 in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.

Documents
T8-0458/2016
2016/11/29
   EP - Committee report tabled for plenary, 1st reading
Details

The Committee on Economic and Monetary Affairs adopted the report by Pervenche BERÈS (S&D, FR) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products as regards the date of its application.

The committee recommended that the European Parliament approve the Commission proposal without amendment.

The proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 , in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.

On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission on 30 June 2016 and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014.

Documents
A8-0356/2016
2016/11/28
   EP - Vote in committee, 1st reading
2016/11/21
   EP - Committee referral announced in Parliament, 1st reading
2016/11/16
   EP - Committee draft report
Documents
PE594.019
2016/11/09
   EC - Legislative proposal published
Details

PURPOSE: to defer the date of application of Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products.

PROPOSED ACT: Regulation of the European Parliament and of the Council.

ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

BACKGROUND: Regulation (EU) No 1286/2014 of the European Parliament and of the Council introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products (PRIIPs) to produce a Key Information Document (KID).

The Regulation empowers the European Supervisory Authorities to prepare regulatory technical standards specifying the elements of the KID.

On 6 April 2016, the ESAs jointly submitted the draft regulatory technical standards (RTS) on the KID for PRIIPs to the Commission. The draft RTS were endorsed by the Commission on 30 June 2016 by adopting the Delegated Regulation on KID.

During the scrutiny period, the Council raised no objections to the Commission Delegated Regulation. However, on 14 September 2016, the European Parliament rejected it. The European Parliament called on the Commission to review the provisions relating to multi-option PRIIPs, performance scenarios and comprehension alert. Moreover, the European Parliament and a large majority of Member States asked the Commission to defer the date of application of Regulation (EU) No 1286/2014 .

Given the exceptional circumstances that have led to delays in the adoption of the Delegated Regulation and in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules, the date of application of Regulation (EU) No 1286/2014 shall be deferred.

CONTENT: the proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 , in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.

Documents
COM(2016)0709
EUR-Lex
2016/11/07
   EP - BERÈS Pervenche (S&D) appointed as rapporteur in ECON

Documents

Activities

Votes

A8-0356/2016 - Pervenche Berès - Vote unique #

2016/12/01 Outcome: +: 561, 0: 75, -: 9
DE FR PL GB IT ES RO BE PT BG AT HU CZ SE NL FI SK HR LT DK SI LV IE EE MT LU CY EL
Total
81
62
49
59
65
42
24
21
20
16
16
16
17
16
22
13
12
11
9
9
8
7
10
6
6
5
4
18
icon: PPE PPE
189

Germany PPE

32

France PPE

18

Poland PPE

22

Italy PPE

12

Spain PPE

15

Romania PPE

10

Belgium PPE

4

Portugal PPE

7

Bulgaria PPE

7

Austria PPE

4

Hungary PPE

10

Czechia PPE

5

Sweden PPE

2

Netherlands PPE

5

Finland PPE

3

Slovakia PPE

5

Croatia PPE

5

Lithuania PPE

2

Slovenia PPE

5

Latvia PPE

3

Ireland PPE

4

Estonia PPE

For (1)

Tunne KELAM
1

Malta PPE

3

Luxembourg PPE

2

Greece PPE

3
icon: S&D S&D
165

Germany S&D

21

France S&D

11

Poland S&D

5

United Kingdom S&D

19

Italy S&D

27

Spain S&D

11

Romania S&D

9

Belgium S&D

4

Portugal S&D

8

Bulgaria S&D

3

Austria S&D

4

Hungary S&D

4

Czechia S&D

4

Sweden S&D

6

Netherlands S&D

2

Finland S&D

2

Slovakia S&D

4

Croatia S&D

2

Lithuania S&D

2

Denmark S&D

3

Slovenia S&D

For (1)

Tanja FAJON
1

Latvia S&D

1

Ireland S&D

For (1)

Nessa CHILDERS
1

Estonia S&D

For (1)

Marju LAURISTIN
1

Malta S&D

3

Luxembourg S&D

For (1)

Mady DELVAUX
1

Cyprus S&D

2

Greece S&D

4
icon: ALDE ALDE
63

Germany ALDE

3

France ALDE

6

United Kingdom ALDE

1

Spain ALDE

6

Romania ALDE

3

Belgium ALDE

6

Portugal ALDE

2

Bulgaria ALDE

4

Austria ALDE

For (1)

Angelika MLINAR
1

Czechia ALDE

4

Sweden ALDE

2

Netherlands ALDE

6

Finland ALDE

4

Croatia ALDE

2

Lithuania ALDE

3

Denmark ALDE

3

Slovenia ALDE

For (1)

Ivo VAJGL
1

Latvia ALDE

1

Ireland ALDE

For (1)

Marian HARKIN
1

Estonia ALDE

3

Luxembourg ALDE

For (1)

Charles GOERENS
1
icon: ECR ECR
65

Germany ECR

6

Poland ECR

18

United Kingdom ECR

17

Italy ECR

2

Romania ECR

For (1)

Monica MACOVEI
1

Belgium ECR

4

Bulgaria ECR

2

Czechia ECR

2

Netherlands ECR

2

Finland ECR

2

Slovakia ECR

3

Croatia ECR

For (1)

Ruža TOMAŠIĆ
1

Denmark ECR

2

Latvia ECR

For (1)

Roberts ZĪLE
1

Cyprus ECR

1

Greece ECR

Against (1)

Notis MARIAS
1
icon: Verts/ALE Verts/ALE
41

Germany Verts/ALE

12

France Verts/ALE

4

United Kingdom Verts/ALE

5

Spain Verts/ALE

3

Belgium Verts/ALE

2

Austria Verts/ALE

3

Hungary Verts/ALE

For (1)

Benedek JÁVOR
1

Sweden Verts/ALE

3

Netherlands Verts/ALE

1

Finland Verts/ALE

For (1)

Heidi HAUTALA
1

Croatia Verts/ALE

For (1)

Davor ŠKRLEC
1

Lithuania Verts/ALE

For (1)

Bronis ROPĖ
1

Slovenia Verts/ALE

For (1)

Igor ŠOLTES
1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

Indrek TARAND
1

Luxembourg Verts/ALE

For (1)

Claude TURMES
1
icon: ENF ENF
35

Germany ENF

For (1)

Marcus PRETZELL
1

France ENF

18

Poland ENF

2

United Kingdom ENF

Abstain (1)

Janice ATKINSON
1

Italy ENF

4

Romania ENF

1

Belgium ENF

For (1)

Gerolf ANNEMANS
1

Austria ENF

4

Netherlands ENF

3
icon: EFDD EFDD
34

Germany EFDD

Against (1)

Beatrix von STORCH
1

France EFDD

1

Poland EFDD

1

United Kingdom EFDD

12

Italy EFDD

16

Sweden EFDD

2

Lithuania EFDD

For (1)

Rolandas PAKSAS
1
icon: NI NI
14

Germany NI

Against (1)

Martin SONNEBORN
1

France NI

2

Poland NI

1

United Kingdom NI

For (1)

Diane DODDS

Abstain (2)

Diane JAMES, Steven WOOLFE
3

Italy NI

1

Hungary NI

For (1)

Zoltán BALCZÓ
1

Greece NI

5
icon: GUE/NGL GUE/NGL
38

Germany GUE/NGL

4

France GUE/NGL

For (1)

Younous OMARJEE

Abstain (1)

Patrick LE HYARIC
2

United Kingdom GUE/NGL

Abstain (1)

Martina ANDERSON
1

Italy GUE/NGL

3

Spain GUE/NGL

7

Portugal GUE/NGL

3

Czechia GUE/NGL

2

Sweden GUE/NGL

Abstain (1)

Malin BJÖRK
1

Netherlands GUE/NGL

3

Finland GUE/NGL

Abstain (1)

Merja KYLLÖNEN
1

Denmark GUE/NGL

Abstain (1)

Rina Ronja KARI
1

Ireland GUE/NGL

4

Cyprus GUE/NGL

Abstain (1)

Takis HADJIGEORGIOU
1

Greece GUE/NGL

5

History

(these mark the time of scraping, not the official date of the change)

2023-08-03Show (4) Changes | Timetravel
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2021-12-18Show (10) Changes | Timetravel
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2020-01-19Show (2) Changes | Timetravel
events/3/docs/0/url
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2019-09-04Show (2) Changes | Timetravel
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2019-07-06Show (21) Changes | Timetravel
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  • date: 2017-01-12T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2016)0709 title: COM(2016)0709 type: Contribution body: PT_PARLIAMENT
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  • date: 2016-11-09T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2016/0709/COM_COM(2016)0709_EN.pdf title: COM(2016)0709 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2016&nu_doc=0709 title: EUR-Lex summary: PURPOSE: to defer the date of application of Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products. PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: Regulation (EU) No 1286/2014 of the European Parliament and of the Council introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products (PRIIPs) to produce a Key Information Document (KID). The Regulation empowers the European Supervisory Authorities to prepare regulatory technical standards specifying the elements of the KID. On 6 April 2016, the ESAs jointly submitted the draft regulatory technical standards (RTS) on the KID for PRIIPs to the Commission. The draft RTS were endorsed by the Commission on 30 June 2016 by adopting the Delegated Regulation on KID. During the scrutiny period, the Council raised no objections to the Commission Delegated Regulation. However, on 14 September 2016, the European Parliament rejected it. The European Parliament called on the Commission to review the provisions relating to multi-option PRIIPs, performance scenarios and comprehension alert. Moreover, the European Parliament and a large majority of Member States asked the Commission to defer the date of application of Regulation (EU) No 1286/2014 . Given the exceptional circumstances that have led to delays in the adoption of the Delegated Regulation and in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules, the date of application of Regulation (EU) No 1286/2014 shall be deferred. CONTENT: the proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 , in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.
  • date: 2016-11-21T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2016-11-28T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2016-11-29T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2016-0356&language=EN title: A8-0356/2016 summary: The Committee on Economic and Monetary Affairs adopted the report by Pervenche BERÈS (S&D, FR) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products as regards the date of its application. The committee recommended that the European Parliament approve the Commission proposal without amendment. The proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 , in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules. On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission on 30 June 2016 and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014.
  • date: 2016-12-01T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=27936&l=en title: Results of vote in Parliament
  • date: 2016-12-01T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0458 title: T8-0458/2016 summary: The European Parliament adopted by 561 votes to 9, with 75 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products as regards the date of its application. Parliament’s position, adopted at first reading following the ordinary legislative procedure, seeks to defer the date of application by 12 months, until 1 January 2018 of Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs). Regulation (EU) No 1286/2014 introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products to produce a key information document ('KID'). On 30 June 2016, the Commission adopted a delegated regulation supplementing Regulation (EU) No 1286/2014 which specifies the presentation and the content of the KID and its standardised format, the methodology underpinning the presentation of risk and reward and the calculation of costs, the conditions and the minimum frequency for reviewing the information contained in the KID and the conditions for fulfilling the requirement to provide the KID to retail investors. On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission. Together with a large majority of Member States, Parliament called for a deferral of the date of application of Regulation (EU) No 1286/2014 in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.
  • date: 2016-12-08T00:00:00 type: Act adopted by Council after Parliament's 1st reading body: EP/CSL
  • date: 2016-12-12T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2016-12-14T00:00:00 type: Final act signed body: CSL
  • date: 2016-12-23T00:00:00 type: Final act published in Official Journal summary: PURPOSE: to defer the date of application of Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products. LEGISLATIVE ACT: Regulation (EU) 2016/2340 of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products as regards the date of its application. CONTENT: the Regulation defers the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018 . As a reminder, Regulation (EU) No 1286/2014 requires manufacturers of packaged retail and insurance-based investment products (PRIIPs) to produce a Key Information Document (KID) in order to enhance investor protection and increase transparency in the retail investment market. On 30 June 2016, the Commission adopted a delegated regulation supplementing Regulation (EU) No 1286/2014 which specifies the presentation and the content of the KID. On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014. A deferral of 12 months will give additional time for those concerned to adhere to the new requirements. ENTRY INTO FORCE: 24.12.2016. docs: title: Regulation 2016/2340 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32016R2340 title: OJ L 354 23.12.2016, p. 0035 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2016:354:TOC
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    • Amending Regulation (EU) No 1286/2014
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    • The Committee on Economic and Monetary Affairs adopted the report by Pervenche BERÈS (S&D, FR) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products as regards the date of its application.

      The committee recommended that the European Parliament approve the Commission proposal without amendment.

      The proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018, in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.

      On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission on 30 June 2016 and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014.
    activities/4/docs/0/text

    • The European Parliament adopted by 561 votes to 9, with 75 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products as regards the date of its application.

      Parliament’s position, adopted at first reading following the ordinary legislative procedure, seeks to defer the date of application by 12 months, until 1 January 2018 of Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs).

      Regulation (EU) No 1286/2014 introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products to produce a key information document ('KID').

      On 30 June 2016, the Commission adopted a delegated regulation supplementing Regulation (EU) No 1286/2014 which specifies the presentation and the content of the KID and its standardised format, the methodology underpinning the presentation of risk and reward and the calculation of costs, the conditions and the minimum frequency for reviewing the information contained in the KID and the conditions for fulfilling the requirement to provide the KID to retail investors.

      On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission. Together with a large majority of Member States, Parliament called for a deferral of the date of application of Regulation (EU) No 1286/2014 in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.
    2016-12-03Show (3) Changes | Timetravel
    activities/4/docs
    • url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0458 type: Decision by Parliament, 1st reading/single reading title: T8-0458/2016
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    • PURPOSE: to defer the date of application of Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products.

      PROPOSED ACT: Regulation of the European Parliament and of the Council.

      ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

      BACKGROUND: Regulation (EU) No 1286/2014 of the European Parliament and of the Council introduced a series of measures aimed at enhancing investor protection and rebuilding consumer trust in the financial services industry by increasing transparency in the retail investment market. It requires manufacturers of packaged retail and insurance-based investment products (PRIIPs) to produce a Key Information Document (KID).

      The Regulation empowers the European Supervisory Authorities to prepare regulatory technical standards specifying the elements of the KID.

      On 6 April 2016, the ESAs jointly submitted the draft regulatory technical standards (RTS) on the KID for PRIIPs to the Commission. The draft RTS were endorsed by the Commission on 30 June 2016 by adopting the Delegated Regulation on KID.

      During the scrutiny period, the Council raised no objections to the Commission Delegated Regulation. However, on 14 September 2016, the European Parliament rejected it. The European Parliament called on the Commission to review the provisions relating to multi-option PRIIPs, performance scenarios and comprehension alert. Moreover, the European Parliament and a large majority of Member States asked the Commission to defer the date of application of Regulation (EU) No 1286/2014.

      Given the exceptional circumstances that have led to delays in the adoption of the Delegated Regulation and in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules, the date of application of Regulation (EU) No 1286/2014 shall be deferred.

      CONTENT: the proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018, in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.
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    2016-11-24Show (3) Changes | Timetravel
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    2016-11-22Show (1) Changes | Timetravel
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    2016-11-15Show (5) Changes
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    • date: 2016-12-01T00:00:00 body: EP type: Indicative plenary sitting date, 1st reading/single reading
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    • body: EP shadows: group: EPP name: PIETIKÄINEN Sirpa group: ECR name: KAMALL Syed group: ALDE name: JEŽEK Petr group: GUE/NGL name: CARTHY Matt group: Verts/ALE name: GIEGOLD Sven responsible: True committee: ECON date: 2016-11-07T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: S&D name: BERÈS Pervenche
    • body: EP responsible: False committee_full: Internal Market and Consumer Protection committee: IMCO
    • body: EP responsible: False committee_full: Civil Liberties, Justice and Home Affairs committee: LIBE
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