Key Information Documents
On 1 January 2018, the Regulation for Packaged Retail and Insurance-based Investment Products (PRIIPs) came into force which requires insurance firms, advisors and intermediaries to provide a Key Information Document (KID) during a pre-contractual sale of a PRIIP. The aim of KIDs is to increase the transparency, comparability and understanding of investment products across all EU markets through the issue of a standardised short and consumer-friendly disclosure document. The Regulation requires the PRIIP manufacturer to create a KID for each product and to make them available on their website.
There are many complexities involved with the production of KIDs, especially surrounding the calculations for the Summary Risk Indicator (market risk and credit risk assessment) and the Performance Scenarios. We are experts at understanding all the complexities and parts of the KID to ensure compliance with the Regulation, and can advise on a solution that is both proportionate and cost-effective for your business.
We provide a comprehensive range of services for the production and maintenance of your KIDs. So, from supporting you with a new product launch to negating expensive review cycles, we are here to help.
- Advisory Service - Mapping the Regulation to your PRIIPs and advice on the specific requirements for your KIDs.
- Calculation Service - Providing you with the calculations for your KIDs, such as Summary Risk Indicators and Performance Scenarios.
- Full Production Service - Outsource the production of your KIDs.
- Compliance Audit Service - A review of your KIDs to ensure they meet the requirements in the Regulation and the expectations of the FCA.
- Monitoring Service - A system that actively monitors for any underlying changes in market conditions which will have an impact on the Summary Risk Indicator and Performance Scenarios, therefore, only identifying a review of KIDs when necessary.
We currently do not offer a service to investment managers for the production of Key Investor Information Documents (KIIDs).
Events:
- 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
For more information
Claire Lightwood FIA
Professional Services, Account Manager
What our clients say
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"The way that you have replied to me and taken time and care to explain everything to me has been superb. Especially as some of the information has been on the very edge of what I can comprehend! But your emails have been a pleasure to read so thank you."