The European Parliament's Committee on Economic and Monetary Affairs has backed a motion by MEPs calling for urgent changes to current rules on PRIIPs KID documents, which could lead to a redraft of the regulations if supported by higher European authorities.
Yesterday, MEPs tabled the last minute challenge to current PRIIPs rules on new fund Key Information Documents (KIDs), arguing they could 'mislead' retail investors in areas like performance. The motion was presented to the European Parliament's Committee on Economic and Monetary Affairs, which has now supported the complaint. It will now be progressed to the wider European Parliament for debate on the 12 September as to whether the European Commission and Council should redraft the current PRIIPs regulatory standards. The motion was tabled during final discussions on how PRIIPs re...
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