The PRIIPs KID and the Need for Disclosure of Past Performance

At the end of 2014 the European Commission adopted a Regulation requiring for a new form of short, standardised consumer‐friendly information (a “Key Information Document” or KID) to be provided to retail investors when buying Packaged Retail and Insurance‐based Investment Products (PRIIPs). With the Regulation intended to come into force on 31 December 2016, the three European Supervisory Authorities (ESAs) - EBA, EIOPA and ESMA - were charged with the development of detailed rules on what the PRIIPs manufacturers must include in the KID, in order for them to be as helpful and meaningful for retail investors as possible.

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