EFAMA has responded to the Commission's consultation on PRIPs. It fully supports the initiative and says there must be a level playing field for retail financial products. It disagrees that all pensions should be excluded from the scope of PRIPs. It reiterate its concern at the Commission's proposal to use different pieces of legislation to make the changes. It also recommends the Commission learns lessons from the consultation over the UCITS Key Information Document when drafting the PRIPs equivalent. (Source: EFAMA reply to the European Commission Consultation on Legislative Steps for the Packaged Retail Investment Products Initiative)