Clifford Chance

FCA proposes further divergence from the EU PRIIPs Regulation

12 August 2021

On 20 July 2021, the FCA published a consultation paper proposing further amendments to the UK PRIIPs regime.

The proposed changes aim to: (i) clarify the products in respect of which a KID should be produced; and (ii) improve the information that is provided within the KID. In particular, the changes seek to address long-held industry concerns that the performance scenarios, risk indicators and transaction costs that must be provided within the KID are potentially misleading to investors. The proposals evidence both the FCA's continued focus on consumers and its willingness to diverge from EU requirements where it considers that this would be beneficial to such consumers.

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