FCA calls for industry input on under-fire PRIIPs regulation

Covers scope, disclosure requirements and transaction cost calculations

The Financial Conduct Authority (FCA) has initiated its review into the unintended consequences of PRIIPs regulation, which came into force in January, by asking for feedback on areas including performance scenarios and transaction cost calculations.

The call for evidence, which closes on 29 September, will form the basis of the FCA's supervisory work on the regulation as well as a feedback statement it will publish in the first quarter of 2019. The FCA said: "We know there is some industry concern about how to correctly interpret the scope of the PRIIPs regulation. "We want to hear more about the impact of this on firms and consumers, particularly if a lack of clarity has changed behaviour." PRIIPs requires asset managers to provide a Key Information Document (KID), which has been heavily criticised due to its controversial re...