Investment products: ‘PRIIPs’ rules delayed by one year

On 8 December 2016, the Council adopted a regulation postponing the application date of rules on packaged retail and insurance-based investment products (PRIIPs) by 12 months.

Regulation 1286/2014 will now be applied from 1 January 2018, instead of 31 December 2016 as initially stipulated.

The one-year delay will enable regulatory technical standards to be defined, leaving sufficient time for the industry to adapt to the new rules. This comes after the European Parliament objected to regulatory technical standards that were initially adopted by the Commission.

• Primary Source

ESO: Background information: Commission extends the application date of the PRIIPs Regulation by one year http://www.europeansources.info/record/commission-extends-the-application-date-of-the-priips-regulation-by-one-year/

ESO: Background information: Employment, Social Policy, Health and Consumer Affairs Council, 8 December 2016 http://www.europeansources.info/record/employment-social-policy-health-and-consumer-affairs-council-8-december-2016/

---