ESMA chief: We need 'concrete evidence' on whether PRIIPs 'flaws' are real

Backs methodology

Steven Maijoor, chair of pan-European regulator ESMA, has downplayed industry concerns about the 'flawed' methodology for disclosing transaction costs under new PRIIPs rules, adding negative figures "should be extremely rare".

The European Union's Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation, which came into force on 1 January 2018, is aimed at helping retail investors better understand and compare the key features, risks, rewards and costs of different products through a short Key Information Document (KID). Editor's View: Why KIDs review can't wait However, the industry has been critical of the new regulations, including the methodology for calculating transaction costs to be included in KIDs. These have previously been described by the Investment Association as "exceptio...