The Application of New Rules on KID’s Postponed to 1 January 2023
Published 25 August 2022
Category: Financial Regulation
On 6 September 2021, The EU Commission amended the EU delegated regulation for the presentation of the Key Information Document (“KID”). Read more about the amendments here.
The initial effective date was 1 July 2022. However, on 24 June 2022 the EU Commission published a delegated regulation that postpones the application date of certain PRIIPs-related disclosures.
- The new rules in the delegated regulation are postponed to 1 January 2023.
- The rules amend the regulation for the presentation and the content of the KID that sets out information on risks, rewards and costs. The changes include new calculation methods affecting the computation of risks, performance scenarios and transaction costs. Changes to the KID template are made as well.
As of 1 January 2023, the amendments to the PRIIP regulation require that fund managers take into consideration the amended rules for the calculation and presentation of risks, rewards and costs in KIDs when making a KID available to retail investors. Additionally, the fund managers must revise existing KID’s in accordance with the new rules when raising funds after 1 January 2023 in existing funds.
Tags: KID / PRIIPS
Also tagged ‘KID / PRIIPS’
Proposal to amend the PRIIP Level 1 Regulation
The European Commission has earlier this year published a number of targeted proposals to amend the PRIIP Level 1 Regulation, implementing more modern rules on how a PRIIP Key Information Document (KID) is provided to investors. The proposed changes aim to change the content of the (KID) which must be provided to retail investors before investing.
KID / PRIIPSNew Rules for the Calculation and Presentation of Risks, Rewards and Costs in Key Information Documents
The EU Commission has amended the EU delegated regulation for the presentation and the content of the Key Information Document (KID) that sets out information on risks, rewards and costs to be given to retail investors (i.e. non-professional investors) in good time before they invest in alternative investment funds etc.
KID / PRIIPSESA issues Joint Supervisory Statement on the Application of Scope of the PRIIPs Regulation to Bonds
The statement seeks to mitigate the risk of divergent application, by national competent authorities, for determining the type of bonds for which it is necessary to draw up a Key Information Document (KID).
Disclosure RequirementsESMAKID / PRIIPSESA issues Consultation Paper on Amendments to the Existing PRIIPS Regulation
On 16 October 2019 ESA has issued a consultation paper on amendments to existing rules underpinning the Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs).
Disclosure RequirementsESMAKID / PRIIPSESMA Consults on Regulatory Technical Standards Under the ELTIF Regulation
On 28 March 2019, the European Securities and Markets Authority (ESMA) issued a Consultation Paper on draft Regulatory Technical Standards (RTS) under article 25 of the ELTIF Regulation.
ESMAKID / PRIIPSManagement RemunerationRegulatory Technical StandardsNew Proposal to Implement Authority to Enforce the PRIIPS-Regulation Into Danish Law
On 27 February 2019, the Danish Government presented a proposal for an amendment of the Danish AIFM Act giving the Danish Financial Supervisory Authority competence to enforce the PRIIPs regulation.
ComplianceDanish RegulationDisclosure RequirementsKID / PRIIPSWhistleblowingOther updates
ESMA consults on proposals to digitalise sustainability and financial disclosures
The European Securities and Markets Authority has published a consultation paper seeking stakeholders’ view on how the European Single Electronic Format can be applied to sustainability reporting for the purpose of easing the burden associated with financial reporting.
ESMARegulatory Technical StandardsSustainabilityNew Q&As on application of Guidelines on funds’ names
ESMA has published Q&As for Guidelines on funds’ names using ESG or sustainability-related terms.
ESMASustainabilityReport on investing for transition benchmarks
The Platform on Sustainable Finance has published a report on Investing for Transition Benchmarks proposing two voluntary benchmark labels.
SustainabilityProposal for categorisation of products under the SFDR
The EU Platform on Sustainable Finance has published a briefing note for the EU Commission outlining how a categorisation system for sustainable finance products could be set up and calibrated.
SFDRSustainabilityRepeal of rules regarding shareholder loans and other amendments to the Danish Companies Act
On 19 December 2024, the Danish Parliament has adopted the amendment acts L71 and L72 regarding amendments to the Danish Companies Act and other Danish laws.
Venture CapitalAbolition of the ‘entrepreneur tax’ and other changes to Danish tax legislation adopted
On 19 December 2024, amendments to the Danish Corporation Tax Act, the Danish Capital Gains Tax Act and the Danish Personal Tax Act, as well as other Danish tax laws, were adopted by the Danish Parliament.
Venture Capital