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HomeConsumer testing study of the possible new format and content for retail disclosures of packaged retail and insurancebased investment products
Final report
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On 26 November 2014, a Regulation was adopted which requires a new form of short, standardised consumer‐friendly information (a “Key Information Document” or KID) to be provided to retail investors when buying Packaged Retail and Insurance‐based Investment Products (PRIIPs). The Regulation will apply from 31 December 2016. Each product’s KID will be drafted by its manufacturer but will adhere to a common format. Article 8 (3) of the PRIIPs Regulation sets out the main sections of the document which will provide answers to the following questions relevant to investors: - "What is this investment?" - "What are the risks and what could I get in return?" - "What happens if the product manufacturer is unable to pay out?" - "What are the costs?" - "How long should I hold it and can I take money out early?" - "How can I complain?" - "Other relevant information" The three European Supervisory Authorities (ESAs) have been empowered to develop proposals for detailed rules on what the manufacturers must include in these areas. These proposals should ensure KIDs that are as helpful and meaningful for retail investors as possible. In this regard, the European Commission has initiated this consumer testing study so the particular format for presenting PRIIPs information will be truly helpful for consumers in comparing and selecting the best products for their investment needs. In addition to looking at the best format of the KID, the testing needed to identify how this could best work also for products that offer multiple investment options. This is particularly with regards to the provision of generic information about such products, where such information is provided separate from specific information on the details of each of the investment options offered.
- Publicat(ă) la:
- Teme: Bănci, asigurări
- Subiecte: analiza cost-beneficiu , asigurare , investiții , piață financiară , raport , servicii financiare , societate de asigurări
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| ISSN | ISBN 978-92-79-41311-7 | DOI 10.2780/71652 | Număr de catalog KM-01-14-985-EN-N |
- Released on EU publications website:
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