FCA confirms PRIIPs product scope

Rules implemented in January 2018

The Financial Conduct Authority (FCA) has published final rules on PRIIPs, clarifying which investment vehicles will be exempt from the new regulations.

In a paper entitled PS 17/16 FCA's disclosure rules following application of PRIIPs regulation, the regulator laid out which products will be affected following feedback to its consultation paper issued last July. Europe-wide PRIIPs (Packaged Retail and Insurance-based Investment Products) legislation requires firms to prepare, publish and provide a Key Information Document (KID) for each PRIIP manufactured. This will need to be no more than three pages long and contain specific information such as product descriptions, how long the product should be held and how much it costs. How...