On 7 April 2016, the Joint Committee of the European Supervisory Authorities - ESMA, EBA ed EIOPA - has published the final draft Regulatory Technical Standard (RTS) in accordance with Regulation (EU) No 1286/2014 of the European Parliament and of the Council on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs).

The new rules reflect the over 70 responses to the Consultation Paper dated 11 november 2015 (Consultation Paper) and take into account the results of the consumer testing carried out by the European Commission about the new format and content of the KID.

The purpose of the new rules is to implement and review the provisions of the Consultation Paper on: the adoption of a template of KID (containing, inter alia, the presentation of risks, performance scenario and costs); review and revision of the KID; simplification of the information for retail investors.

The new rules have been submitted to the European Commission for endorsement. They will come into force on the 31 December 2016.

The final draft Regulatory Technical Standards is available here (English only).