Financial Services

Treasury written question – answered on 20th December 2018.

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Photo of Chris Evans Chris Evans Labour/Co-operative, Islwyn

To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the (a) content on disclosure of risk and future performance and (b) other content in Key Information Documents prepared in accordance with the Packaged Retail and Insurance-based Investment Products Regulations 2017.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation has applied since 1 January 2018.

In July 2018 the Financial Conduct Authority (FCA) put out a Call for Input to assess the initial experiences of both firms and consumers of the new requirements introduced by the PRIIPs Regulations. These requirements include those relating to the content of Key Information Documents.

The FCA have committed to providing a publicly available feedback statement on their Call for Input in early 2019.

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