From 1 January 2018, the Packaged Retail and Insurance-based Investment Products (PRIIPs), a European regulation, will become effective.
From 1 January 2018, the Packaged Retail and Insurance-based Investment Products (PRIIPs), a European regulation, which introduces a Key Information Document (KID) for packaged financial products, will become effective. PRIIPs is a cross sector regulation, affecting asset managers, insurance companies and banks, with the intention of establishing a new standard disclosure document for retail investors.
Packaged retail investment and insurance products (PRIIPs) are investment products that cover a range of investment vehicles which, taken together, make up a market in Europe worth up to €10 trillion. Such investment products clearly offer a number of benefits for retail investors, but may be complex tools. In addition, clients may face difficulty to understand product information and to compare between different investment products.
The EU has adopted a regulation on PRIIPs, which obliges financial institutions who sell investment products to provide investors with key information documents (KIDs). KIDs should be short documents providing clear information on investment products such as product details, target investors, risk profile and risk indicator as well as performance scenarios and cost structure.
In line with Swiss Life Global Solutions' core focus on regulatory compliance and reduced complexity for our clients, we have partnered with the market leading service provider in Luxembourg to collect the required data in order to generate the KIDs.