PRIIPs delegated regulation regarding product intervention published in OJ

The Commission Delegated Regulation (EU) 2016/1904 supplementing the PRIIPs Regulation was published in the Official Journal on 29 October 2016.

Under the PRIIPs Regulation, national competent authorities and EIOPA have intervention powers to intervene in the marketing, distribution or sale of insurance-based investment products, financial activities or practices.

This Delegated Regulation sets out a list of criteria and factors to be taken into account by national competent authorities and EIOPA in the event of significant investor protection concerns or a ‘threat’ to the orderly functioning and integrity of financial markets, or to the stability of financial systems across Europe.

The Delegated Regulation enters into force from 18 November 2016, and is effective from 31 December 2016.

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