Update: EU confirms two year UCITS KID delay

European Commission relents to pressure

The controversial extension of the PRIIPs Key Investor Document (KID) requirement to UCITS funds has been delayed by another two years amid mounting pressure from the asset management industry, regulators and MEPs.

MEP's voted on Monday (3 November) to confirm the delay, which will hold off the plans until 2021. Commenting on the delay, Jonathan Lipkin, director of policy, strategy and research at the Investment Association, said: "We are pleased that the European Parliament has decided to extend both the time available for the review of the PRIIP KID and the UCITS exemption period. "It is essential that this time is used to develop and test solutions which ensure customers are provided cost and performance information that is reliable, clear and meaningful to help them make informed investment ...