EU Regulatory Update

Author: Clerkin Lynch LLP

Date Published 26/11/2021

Postponement of PRIIPs KID until 2023

The European Parliament has determined to postpone the requirement for the PRIIP Key Information Document (“KID”) until the 1st of January 2023.

The rationale for the change is stated to be to make it easier for management companies, investment companies and persons advising on, or selling, units of UCITS to make use of the presentation, content and standard format of the KID and to have sufficient time to prepare for the end of the transitional arrangement and actually produce the required KIDs.

The resolution to approve the postponement was passed on 23 November 2021 (Reference A9-0301/2021). Member States have until 30 June 2022 to implement the measures necessary to reflect the related changes.