FCA to ditch performance scenarios from PRIIPs KIDs in rules shake-up

Regulator tackles issues with new post-Brexit powers

The Financial Conduct Authority (FCA) is proposing a raft of changes to the PRIIPs regulations under its new post-Brexit powers, including the removal of “misleading” performance scenarios and exemptions for certain bond products.

Proposals published today (20 July), as part of a consultation paper, seek to provide more clarity to consumers about what PRIIPs products are, the risk presented and information to help understand likely future performance. AIC 'beyond frustrated' at Treasury's ruling to keep UCITS PRIIPs five-year exemption Executive director of consumers and competition at the FCA Sheldon Mills said the changes aim to "ensure that consumers have what they need through transparent information and furthermore through the reduction of potentially misleading information being displayed". Under t...