ESMA has published:
- a call for advice it has received on certain aspects of retail investor protection in which the Commission asks ESMA to advise on:
- addressing and enhancing investor engagement with disclosures;
- drawing out the benefits of digital disclosures; and
- assessing the risks and opportunities of digital tools and channels.
- a call for advice to the ESA Joint Committee on the PRIIPs Regulation, in which the Commission asks for:
- a general survey of use of the PRIIPs KID across the EU, including on products for which they are used, trends, how distributors and advisors use them and the extent to which marketing information aligns with or differs from the KID information;
- a general survey on the operation of the comprehension alert;
- a survey of the practical application of the rules, including on costs of compliance, consistency of application, supervision of accuracy of KIDs and effect on misselling events;
- an assessment of the effectiveness of sanctions for breach;;
- an assessment of how the regime is adapted to digital media; and
- an assessment of product scope.
The Commission has sent a similar request to EIOPA and asks for coordination between the authorities. It has asked for the report by 30 April 2022.