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ABI comments on European Parliament rejection of PRIIPs Regulatory Technical Standards

The Regulatory Technical Standards (RTS) of the Packaged Retail and Insurance-Based Investment Products (PRIIPs) regulation has today been rejected by members of the European Parliament, and sent back to the European Commission.

Commenting on the decision, ABI Head of Conduct Regulation, James Bridge said:

James Bridge"The ABI is pleased that the European Parliament has rejected the PRIIPs Regulatory Technical Standards on the Key Information Document. We support the consumer objective of the PRIIPs Regulation, but have consistently highlighted why the RTS need significant changes to ensure consumers can compare investment products before making a decision. 

"It is right that the RTS is now reviewed to ensure the original policy objectives can be met. This will take time and means that the PRIIPs implementation date of December 2016 must also now be delayed."

Last updated 14/09/2016