KIDs for PRIIPs
On 1 January 2018, insurance firms that manufacture Packaged Retail and Insurance-based Investment Products (PRIIPs) will be required by the EU to have new Key Information Documents (KIDs) for each PRIIP. The aim of the PRIIPs Regulation is to encourage efficient EU markets by helping investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to short and consumer-friendly KIDs.
The KID needs to be a standalone document (maximum 3 pages of A4) and should not form part of other marketing information. It needs to be easily accessible through a customer-facing platform such as a website and made available in good time before the product is sold to retail investors. The technical requirements in the document include a summary of the risk profile, the performance scenarios and the associated costs of the investment product.
Learn the fundamentals with our "Expert Guide to PRIIPs KID":
OAC’s experts can guide you through all aspects of the creation of a KID. We offer a comprehensive service to help you, including:
- Advisory Service - Map the regulation to your investment products and advice on the specific requirements for your KIDs.
- Calculation Service - Help with the production of the KID risk indicators and performance scenarios.
- Compliance Service - Check your draft KIDs for compliance with the new regulation.
- Full Production Service - Rest assured with an end-to-end service.
- 16 June 2017 - OAC & BDO Seminar in Bristol - Your Expert Guide to PRIIPs KID and IFRS 17
- 12 June 2017 - OAC & BDO Seminar in London - Your Expert Guide to PRIIPs KID and IFRS 17
- 6 June 2017 - OAC & BDO Seminar in Manchester - Your Expert Guide to PRIIPs KID and IFRS 17
Other information on our website:
- 20 June 2017 - OAC speaks to PRIIPs providers about producing compliant KIDs
- 31 March 2017 - European Parliament supports Delegated Regulation for PRIIPs and KIDs
- 15 March 2017 - Full steam ahead for PRIIPs and Key Information Documents (KIDs)
- 6 February 2017 - Roundup and Commentary on PRIIPs and KIDS
- 10 November 2016 - PRIIPs: EU Commission proposes to extend its implementation by one year to 1 January 2018
- 21 September 2016 - OAC response to the FCA on CP16/18 - PRIIPs regulation
- 14 September 2016 - European Parliament rejects draft PRIIPs legislation
- All regulatory news on PRIIPs in our News & Insight section
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