What is the key information document?
The Key Information Document is intended to improve the transparency of information provided to workers, particularly around pay, including an overview of how any fees and deductions will affect the worker’s pay throughout a labour supply chain.
What is PRIIPs reporting?
From 1 January 2018 the Packaged Retail and Insurance-based Investment Products Regulation (“PRIIPs Regulation”) will come into force which requires us to provide you with a pre-contractual Key Information Document. The main goal of the PRIIPs Regulation is to enhance investor protection standards for retail clients.
Who does PRIIPs regulation apply?
The PRIIPs Regulation will affect any person that offers a ‘packaged retail investment product’ to retail investors—i.e., non-professional clients within the meaning of MiFID II Directive 2014/65/EU, including, for the avoidance of doubt, high-net-worth individuals and their investment vehicles).
Who is the PRIIPs manufacturer?
The PRIIPs Regulation refers to manufacturers as entities “such as fund managers, insurance undertakings, credit institutions or investment firms”. However, this could extend to a non-financial firm that issues a product that qualifies as a PRIIP (including corporate bond issuers).
What is PRIIPs kid?
The PRIIPs (Packaged Retail and Insurance-based Investment Products) Regulation aims to improve retail investor protection by: Providing basic pre-contractual information called KID (Key Information Document). The KID documents will provide you with key information on the investment product you may be interested in.
Can you opt out of key information document?
In any event however, it is not possible to opt out of the requirements to provide a key information document under the new regulation 13A. This is so all agency workers, regardless of how they may end up being engaged, are given key information about their engagement before agreeing terms.
Is PRIIPs part of MiFID?
As at 1st January 2018, the financial services industry will be served a double whammy of regulation – Markets in Financial Instruments Directive II (MiFID II) and Packaged Retail and Insurance-based Investment Products (PRIIPs).
What are PRIIPs products?
Packaged retail investment and insurance products (PRIIPs) are at the core of the retail investment market. They are investment products that banks typically offer to consumers, for example, when they want to save for a specific objective such as a house purchase or for a child’s education.
Does PRIIPs apply to UK?
The U.K. PRIIPs Regulation applies to manufacturers of PRIIPs that are or will be made available to retail investors in the U.K. and to firms advising on or selling PRIIPs. These entities are within scope regardless of whether their business involves the provision of regulated financial services activities.
Are investment trusts PRIIPs?
The Packaged Retail and Insurance-based Investment Products (“PRIIPs”) Regulation came into force on 1 January 2018. Investment trusts fall within the regulation and each class of share is deemed to be a separate product.
Which category of financial products come under PRIIPs?
PRIIPs are offered by banks and other financial institutions. Products in the package generally include stocks, bonds, insurance policies, as well as structured funds, structured deposits, and structured products.
What is a kid KIID document?
These used to be called Key Investor Information Documents (KIIDs). Both KIIDS and KIDS give you important information about the fund – including its charges, risk rating and investment profile. Some funds have Supplementary Information Documents (SIDs) too, which you should also take the time to read.
What are the key information documents for priips?
Key information documents for PRIIPs. In order to tackle these shortcomings, the EU has adopted a regulation on PRIIPs, which obliges those who produce or sell investment products to provide investors with key information documents (KIDs). KIDs should be a maximum of 3 pages and provide clear information on investment products.
What does the priips regulation mean for investors?
The aim of the PRIIPs Regulation is to encourage efficient EU markets by helping investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a short and consumer-friendly Key Information Document (KID).
What is a key information document (Kid)?
In order to tackle these shortcomings, the EU has adopted a regulation on PRIIPs, which obliges those who produce or sell investment products to provide investors with key information documents (KIDs). KIDs should be a maximum of 3 pages and provide clear information on investment products. KIDs should include the following information
What are the key information documents (Kids) for investors?
In order to tackle these shortcomings, the EU has adopted a regulation on PRIIPs, which obliges those who produce or sell investment products to provide investors with key information documents (KIDs). KIDs should be a maximum of 3 pages and provide clear information on investment products.