FIN.

Keep UCITS KIID for MOPs for longer, says industry

Insurance Europe and EFAMA are calling for an extension to the date on which PRIIPs KIDS must be produced for multi-option products. Currently, where a UCITS KIID has been produced for underlying funds, insurers and asset managers can produce a generic PRIIPs KID for the overall product, backed up with the specific KIIDs.  But they are allowed to do this only until the end of 2019, unless the benefit of the recently agreed extension to the UCITS exemption is expressly applied also to this situation – so that the status quo can continue until 1 January 2022.

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Emma Radmore