Insurance EuropeInsurance Europe
Position Paper
Position regarding the UCITS exemption from the PRIIPs Regulation

Insurance Europe calls on policymakers to not extend the exemption for undertakings for the collective investment of transferable securities (UCITS) under the Packaged Retail Investment and Insurance Products (PRIIPs) Regulation.

The PRIIPs Regulation entered into force on 1 January 2018 with the purpose of providing consumers with concise information to enable them to compare investment products, including UCITS, before making an investment decision. As UCITS managers had only recently implemented the UCITS KIID, a temporary exemption from the PRIIPs Regulation was granted to the UCITS, expected to expire in December 2019. As a result, PRIIPs and UCITS information documents are now being used in parallel, which is proving to negatively impact comparability across products, therefore hindering a level regulatory playing field between providers to the detriment of consumers.

Therefore, Insurance Europe calls for the UCITS exemption to expire in December 2019 as initially planned.

Published 5 June 2018
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Contacts
William Vidonja
William Vidonja
Head of conduct of business
Emma Coles
Emma Coles
Policy advisor