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PRIIPs Update – Financial Services



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On 24 June 2022, the EU Commission finalised the last step
necessary to align the end date of the exemption for UCITS funds to
produce a PRIIPs KID i.e. 31 December 2022 (“UCITS
Exemption
“). Indeed, due to several previous
postponements, the date of application of the PRIIPs Level 2
measures as amended by the Regulation (EU) 2021/2268
(“PRIIPs RTS“) was not aligned with the
end of the UCITS exemption. The Delegated Regulation (EU) 2022/975 published on 24
June 2022 provides that the new RTS PRIIPs will apply on 1 January
2023.

Therefore, as of 1 January 2023, UCITS funds will have to
produce a PRIIPs KID and comply with the new PRIIPs RTS.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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