On 30 June 2016, the European Commission published a draft Commission Delegated Regulation (C(2016) 3999) (the draft CDR) laying down regulatory technical standards on key information documents (KIDs) for Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs).  Absent an objection from the European Parliament or the Council of the EU, the CDR will apply from 31 December 2016.  Also on 30 June 2016, Insurance Europe issued a press release voicing disappointment at the draft CDR (and reiterated concerns that the rules contained in it will mislead consumers by making insurance products appear more expensive and riskier than they are).  On 1 July 2016, the Joint Committee of the European Supervisory Authorities (ESAs) published a letter sent to the European Parliament and the Council of the EU on supervisory convergence work on KIDs.  The ESAs intend to publish Q&As to provide clarity on the technical methodologies included in the draft CDR over the summer of 2016.  On 18 July 2016, Insurance Europe published a joint letter with other European representative associations (addressed to the European Commission, European Parliament, Council of the EU and the ESA's) to again raise its concerns about the rules regarding KIDs. This states that essential technical issues were not satisfactorily dealt with during a European Commission and ESA workshop on PRIIPS that occurred on 11 July 2016.