European Parliament overwhelmingly rejects PRIIPs Regulatory Technical Standards (RTS)

The European Parliament  has voted to object the RTS for the Packaged Retail Insurance-based Investment Products (PRIIPs) regulation.  With 602 voting in favour of a motion to object to such RTS and just 4 against, the strong vote echoes the insurance industry’s concerns that such RTS would go against the spirit and aim of the legislation which is intended to provide clear, comparable, understandable and non-misleading information on PRIIPs to retail investors through the Key Information Document (KID).   This vote follows on from a similar vote taken by the European Parliament Economics Committee (ECON) earlier (1st September 2016) to approve such a motion (objecting the PRIIPs RTS).

Malta Insurance Association
14 September 2016