ALFI responds to ESA call for evidence on PRIIPs

On 16 December 2021, ALFI responded to a call for evidence published by the European Supervisory Authorities (ESAs) on the European Commission mandate regarding the PRIIPs Regulation.

The ESAs were asked to provide advice regarding outstanding issues concerning the PRIIPs (level 1) Regulation. Their call for evidence was aimed at gathering feedback from industry players on those issues, which may result in a broader review of the PRIIPs Regulation.

The following topics were part of the call for evidence:

• The use of the Key Information Document (KID);
• The operation of the comprehension alert;
• The practical application of the rules;
• The use of digital media;
• The scope of the PRIIPs Regulation;
• The differentiation between different types of PRIIPs;
• The complexity and readability of the KID;
• Performance scenarios and past performance;
• PRIIPs offering a range of options for investment (Multi-Option Products, “MOPs”);
• The alignment between the information on costs in the PRIIPs KID and other disclosures.