On 8 August 2014, the European Commission published a request it sent to EIOPA regarding packaged retail and insurance-based investment products (PRIIPs). In the request the Commission seeks technical advice from EIOPA in relation to temporary product intervention powers for EIOPA and national authorities for certain insurance-based investment products. Such powers would include prohibiting/restricting the marketing/distribution/sale of insurance-based investment products which cause concerns such as (a) investor protection and (b) the stability of the financial system, in certain circumstances. The proposed PRIIPS Regulation contains a power for the Commission to set out the criteria to be considered by EIOPA and/or national authorities when determining whether the powers mentioned should be invoked. It is these criteria in relation to which EIOPA's advice is sought. EIOPA must provide its advice within six months of the PRIIPS Regulation coming into force (expected in November or December 2014, and becoming applicable two years from that date).