Don’t forget to amend your PRIIPs KID

Written By Guest User

All KIDs need to be updated by 31 December 2022 - have you made the changes yet?

In March 2022, the FCA announced its final policy statement (PS22/2), Handbook rules and amendments to the PRIIPs Regulatory Technical Standards (RTS). The new rules came into force on 25 March 2022, with a transition period ending on 31 December 2022. All KIDs will need updating as a result. If they are not updated by 31 December 2022, based on the new rules, it will be a breach. These changes are in addition to those required from March 2022.

As a brief summary of the changes from the Policy Statement:

  • clarification on the scope of the PRIIPs Regulation (corporate bonds etc)

  • new guidance on what it means for a PRIIP to be ‘made available’ to retail investors (including a 100k figure)

  • PRIIPs Regulatory Technical Standards changed to:

    • replace the performance scenarios with a requirement for narrative information on performance to be provided

    • address 'inappropriately low' summary risk indicator in the KID (VCTs take note!)

    • address concerns about ‘slippage’ when calculating transaction costs

If you need help, please get in touch.


Guest User
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