Industry fights for urgent changes to KIDs charging rules as PRIIPs redraft looms

Successful motion passed in EU last week

Trade bodies and asset managers have called for a successful challenge by MEPs to Europe-wide Packaged Retail and Insurance-Based Investment Products (PRIIPs) regulations to be taken a step further, and include vital amendments to the way charges are displayed on new Key Information Documents (KIDs).

Last week, the European Parliament's Committee on Economic and Monetary Affairs supported a last-minute motion by MEPs demanding urgent changes to current PRIIPs rules, which they argue could 'mislead' retail investors in areas like performance. The motion will now be progressed to the wider European Parliament for a debate on the 12 September about whether the European Commission and Council should redraft current PRIIPs standards. This could lead to delays in implementing the new rules, which are set to be introduced on 31 December 2016. London MEP Syed Kamall, one of the leading fi...