2016/0355(COD) | [ParlTrack]

Changes: 2023/08/03docs, 2021/12/18procedure.Modified_legal_basis, events, docs.docs.url, events.type, procedure.Other_legal_basis, committees.shadows, 2020/01/19events.docs.url, 2019/09/04committees, 2019/07/06council, procedure.other_consulted_institutions, otherinst, procedure.instrument, procedure.Modified_legal_basis, procedure.dossier_of_the_committee, events, procedure.final.url, procedure.subject, activities, docs, links, other, committees, procedure.Mandatory_consultation_of_other_institutions, procedure.summary, 2017/01/07activities, procedure.final, procedure.stage_reached, 2016/12/22activities, activities.docs, activities.type, 2016/12/16activities, procedure.stage_reached, 2016/12/14activities, procedure.stage_reached, 2016/12/08activities.docs.text, 2016/12/03procedure.stage_reached, activities.docs, activities.type

View current state | View Changes for this date

Awaiting Parliament 1st reading / single reading / budget 1st stage

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

Role	Committee	Rapporteur	Shadows
Lead	ECON	BERÈS Pervenche (S&D)	PIETIKÄINEN Sirpa (EPP), KAMALL Syed (ECR), JEŽEK Petr (ALDE), CARTHY Matt (GUE/NGL), GIEGOLD Sven (Verts/ALE)
Opinion	IMCO
Opinion	LIBE

Lead committee dossier: ECON/8/08389
Legal Basis TFEU 114

Subjects

Links

Activites

2016/12/01 Vote in plenary scheduled
2016/11/29 Committee report tabled for plenary, 1st reading/single reading
- A8-0356/2016
2016/11/28 Vote in committee, 1st reading/single reading
2016/11/21 Committee referral announced in Parliament, 1st reading/single reading
2016/11/09 Legislative proposal published
- COM(2016)0709 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.

Documents

Legislative proposal published: COM(2016)0709
Committee report tabled for plenary, 1st reading/single reading: A8-0356/2016

History

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

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
activities/4/type	Old Vote in plenary scheduled New Decision by Parliament, 1st reading/single reading
procedure/stage_reached	Old Awaiting Parliament 1st reading / single reading / budget 1st stage New Awaiting Council 1st reading position / budgetary conciliation convocation

2016-12-02Show (4) Changes | Timetravel

activities/2	date 2016-11-28T00:00:00 body EP type Vote in committee, 1st reading/single reading committees 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
activities/3	date 2016-11-29T00:00:00 docs url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2016-0356&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A8-0356/2016 body EP committees 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 type Committee report tabled for plenary, 1st reading/single reading
procedure/Modified legal basis	Rules of Procedure of the European Parliament EP 150
procedure/stage_reached	Old Awaiting committee decision New Awaiting Parliament 1st reading / single reading / budget 1st stage

2016-11-26Show (2) Changes | Timetravel

activities/0/docs/0/text

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.

activities/2/type

Old

Indicative plenary sitting date, 1st reading/single reading

New

Vote in plenary scheduled

2016-11-24Show (3) Changes | Timetravel

activities/1	date 2016-11-21T00:00:00 body EP type Committee referral announced in Parliament, 1st reading/single reading committees 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
procedure/dossier_of_the_committee	ECON/8/08389
procedure/stage_reached	Old Preparatory phase in Parliament New Awaiting committee decision

2016-11-22Show (1) Changes | Timetravel

activities/0/docs/0/celexid

CELEX:52016PC0709:EN

2016-11-16Show (1) Changes | Timetravel

procedure/Mandatory consultation of other institutions

Economic and Social Committee

2016-11-15Show (5) Changes

activities	date: 2016-11-09T00:00:00 docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2016/0709/COM_COM(2016)0709_EN.pdf type: Legislative proposal published title: COM(2016)0709 body: EC type: Legislative proposal published commission: date: 2016-12-01T00:00:00 body: EP type: Indicative plenary sitting date, 1st reading/single reading
committees	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
links
other
procedure	reference 2016/0355(COD) instrument Regulation legal_basis Treaty on the Functioning of the EU TFEU 114 stage_reached Preparatory phase in Parliament summary Amending Regulation (EU) No 1286/2014 subtype Legislation title Key information documents for packaged retail and insurance-based investment products (PRIIPs): date of application of the Regulation type COD - Ordinary legislative procedure (ex-codecision procedure) subject 2.50.03 Securities and financial markets, stock exchange, CIUTS, investments 2.50.05 Insurance, pension funds 2.50.08 Financial services, financial reporting and auditing

Activites

Documents

History

ParlTrack - 2011-2024