Investment - Articles - European Commission announces one year delay to PRIIPs

 "Firms and investors will welcome the Commission's announcement to delay the implementation of PRIIPs until workable standards are developed. The European Parliament's historic vote in September demonstrated that the rejected standards failed to strike the right balance between succinctness and comprehensiveness. The European Supervisory Authorities will soon be given more detail regarding the scope of Level 2 revisions, and will have the opportunity to address concerns around labelling of complex products, treatment of UCITS and insurance cost disclosure."

 "Landing on an approach that allows investors to compare the diverse range of products and instruments covered by PRIIPs is challenging, and the delay of Level 1 implementation will help ensure that the final standards provide firms with a usable framework. Proceeding without such standards could have fatally undermined the regulation's purpose as firms would have had no steer on how to achieve common, comparable disclosure."