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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.”