Consumers need meaningful and accurate information
Clear and accurate product information is vital to enabling consumers to make an informed choice. However, recent rules on consumer information have been discussed in isolation, which has led to a complex and confusing legislative architecture. Not enough attention has been paid to the combined effects and potential unintended consequences of these information requirements such as an information overload for consumers, incoherent disclosures and duplicative requirements.
Insurance-based investment products (IBIPs) account for
more than three quarters of the European PRIIPs market