The European Commission has published a working document providing an update on its ongoing work on Packaged Retail Investment Products (PRIPs) and further detail on how the Commission will take forward the commitments it made in the 30 April 2009 Communication on PRIPs.
PRIPs comprise investment funds, retail structured products and insurance-based investment products. The Communication announced an ambitious work programme to deliver a coherent, horizontal regulatory approach to the protection of investors in these retail investment products, covering both pre-contractual product information and the rules governing selling practices.
Internal Market and Services Commissioner Charlie McCreevy said: "This is a further step towards our aim of rebuilding investor confidence in the financial markets by making it easier for retail investors to understand and compare products and ensure that they are always treated fairly by those selling to them."
In the working document, the Commission provide an outline of the next steps envisaged in view of delivering the commitments taken in the Communication before consulting on more concrete proposals in the forthcoming months.
For further information: Update on Commission work on Packaged Retail Investment Products