European Supervisory Authorities plan to issue Q&As on PRIIPS

The Joint Committee of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has published today a letter to the European Parliament and European Council on the supervisory convergence work by the ESAs in relation to the draft regulatory technical standards on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs).

The questions and answers would aim to clarify how to apply certain technical provisions related to the above-mentioned methodologies included in the PRIIPs RTSs.

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They would for instance provide clarity which of the different methodological steps need to be followed for PRIIPs by clarifying the different types of different PRIIPs, and explaining in plain language the statistical techniques required. Due to their nature, these questions and answers would not pre-empt the results of the scrutiny period, which would be made clear upon publication.

The ESMA statement can be found here.