| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 455, Pages 1-3 |
| Publication Date | 20/12/2021 |
| Content Type | Legislation, Policy-making |
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Summary: Regulation (EU) 2021/2259 - formally adopted by the European Union on 15 December 2021 - introducing amendments to Regulation (EU) No 1286/2014 concerning the extension of the transitional arrangement for management companies, investment companies and persons advising on, or selling, units of undertakings for collective investment in transferable securities (UCITS) and non-UCITS. This is a text with EEA relevance. Further information: Regulation (EU) No 1286/2014 forces those who produce or sell investment products to provide retail investors with key information documents (KIDs) about the products. Article 32(1) of this Regulation exempts management companies, investment companies and persons advising on, or selling, units of UCITS and non-UCITS from the obligations laid down in the Regulation, and thus from the requirement to produce a KID, until 31 December 2021. Upon the adoption of other Delegated Regulations, it became necessary to ensure that sufficient time is provided for those stakeholders to prepare for the obligation to produce a KID. A draft law was tabled by the European Union on 15 July 2021 amending the date in Article 32(1). The proposed Regulation was adopted by the co-legislators on 15 December 2021, and published in the Official Journal on 20 December 2021. |
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| Source Link | http://data.europa.eu/eli/reg/2021/2259/oj |
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| Subject Categories | Business and Industry |
| Subject Tags | Consumer Rights | Protection, Financial Services |
| Keywords | Free Movement of Capital, Insurance |
| International Organisations | European Union [EU] |
