The Joint Committee of the ESAs has finalised its proposal for regulatory technical standards (RTS) on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs). The draft RTS address the content and presentation of the KIDs, including:
- a common mandatory template for the KID;
- a summary risk indicator of seven classes for the risk and reward section of the KID;
- a methodology to assign each PRIIP to one of the classes contained in the summary risk indicator;
- costs presentation, including the figures that must be calculated and the format to be used for these i.e. in both cash and percentage terms; and
- rules on revision and re-publication of the KID, to be done at least each year.
They will come into force on 31 December. (Source: ESAs finalise proposal for RTS on KIDs for PRIIPs)