Morningstar has welcomed a "wide-ranging and open-minded" review of the controversial Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs), announced by European regulators last week.
On Friday (8 February) the European Supervisory Authorities (ESAs) revealed that as a result of industry feedback, they would not immediately implement "targeted amendments" to the regulation and would instead initiate "a more comprehensive revision" of the regulation, which is to be completed by the end of 2019. The regulatory bodies - the European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority - also issued a supervisory statement with regard to performance fees, recommending that firms include a warning within KI...
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