European Commission issues looming deadline to EU regulators for shake-up of PRIIPs rules - reports

Date set for 29 January

EU regulators have been given an end of January deadline by the European Commission's financial services commissioner Mairead McGuinness to come to an agreement about the overhaul of PRIIPs rules, the Financial Times has reported.

McGuinness has written to the European Fund and Asset Management Association (EFAMA), the European Securities and Markets Authority and the European Banking Authority setting a deadline of 29 January, according to the FT. This means that all three bodies have until then to agree the regulatory technical standards (RTS) that cover how projections for future returns and costs are presented to retail investors. Covid-19 highlights PRIIPs' performance predictions flaws - reports According to the FT, in her letter McGuinness said that the Commission was ready to "take all necessary step...