We are relieved to hear that the European Parliament’s ECON Committee proposed on Friday an extension of the UCITS exemption for funds with full support of the Council.
Andreas Stepnitzka, EFAMA Deputy Director, Regulatory Policy, comments:
“This change would require
fund managers to produce the PRIIP Key Information Documents (KID) from 1
January 2023, instead of 01 July 2022 as originally proposed by the European Commission.
EFAMA has for many years consistently explained that the industry needs at least 12 months to carefully update hundreds of thousands of UCITS KIIDs
once the technical standards (RTS) for the PRIIP KIDs have been
approved. The PRIIPs RTS, however, are still under scrutiny by the
Council and the European Parliament and are only likely to be officially
approved in the coming weeks.
We now hope for a swift agreement and publication of all changes in the EU Official Journal by year end.”
EFAMA
© EFAMA - European Fund and Asset Management Association
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