FCA to urge EU authorities to address PRIIPs failings

EU review to be completed this year

The Financial Conduct Authority (FCA) is calling for European authorities to address significant concerns with regard to the PRIIPs regulation, which came into force in January 2019.

Scope, transaction costs calculations, "performance scenarios" and "summary risk indicators" (SRI) are part of a plethora of issues the FCA believes the European regulators and politicians must address in a review, which is expected to be completed by the end of 2019. FCA's Bailey promises action on PRIIPs and MiFID II failings However, in response to its consultations on the controversial regulation, published on Thursday (28 February), the FCA warned that the asset management industry itself must work harder to address concerns about transaction cost methodology. The regulator warne...