HM Treasury in conversation with FCA over PRIIPs

Part of wider review

Kathleen Gallagher
clock • 1 min read
Chancellor Rishi Sunak has an "ambitious vision" for UK financial services. Photo: UK Parliament CC BY 3.0
Image:

Chancellor Rishi Sunak has an "ambitious vision" for UK financial services. Photo: UK Parliament CC BY 3.0

HM Treasury has been meeting with the Financial Conduct Authority over elements of PRIIPs, the EU’s packaged retail and insurance-based investment product regulation.

At the end of March, the FCA confirmed changes to PRIIPs, which included divergences from the EU regulation. One such change was the removal of performance scenarios in a Key Information Document, to be replaced by a "narrative description of disclosure". At the time of the announcement, the FCA also noted that HM Treasury was "committed to carrying out a review of retail disclosure in the future" and said it would "work closely with them as this develops".  Following the announcement, the Association of Investment Companies called on the Treasury to "make good on its promise" and con...

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