EFAMA joins calls to fix PRIIPs failings 'as soon as possible'

‘Causing serious detriment’ to investors

The European Fund and Asset Management Association (EFAMA) has become the latest industry body to call for urgent action from European regulators on PRIIPs Key Investor Documents (KIDs), after publishing a study which found the data requirements are "causing serious detriment" to investors.

In its latest attack on the regulation, which came into force on 1 January, the European funds trade body said PRIIPs' KIDs data requirements, particularly in relation to performance and costs, "at best confuse [investors] and at worst mislead them". Boards of Baillie Gifford trusts write to FCA on misleading KIDs The European Union's Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation is aimed at helping retail investors better understand and compare the key features, risks, rewards and costs of different products through a short Key Information Document (KID)...