Are the KIDs alright? Key Info Docs at risk of being 'unworkable'

The Financial Conduct Authority (FCA)'s consumer panel has today warned that confusion over the purpose of the key information document (KID) could lead to its early demise.

KIDs come under Packaged Retail Investment Products (PRIPS) legislation, and should not be confused with Key Investor Information Documents (KIIDs) which come under UCITS IV legislation. Consumer panel vice chair Kay Blair urged European regulators at the joint European Supervisory Authorities (ESAs) Consumer Protection Day conference in Paris to not let a lack of clarity over the purpose of KIDs lead to the disappearance of the document. She said the panel supported the idea of disclosure which is brought on by KIDs but was concerned too much was thrown at the concept. The ever-in...