For immediate release
Brussels, 28 April 2020 - Ahead of the ESAs' final report on technical changes to the PRIIP Key Information Document (KID), EFAMA has issued a public statement reiterating that the current PRIIP KID remains fundamentally flawed and provides retail investors with misleading information. A full copy of EFAMA's statement is available here
The industry body strongly believes an urgent review addressing these flaws is now both overdue and essential, and it is calling for all relevant parties to work together to find a practical and sensible way forward.
The COVID-19 crisis is resulting in unprecedented economic uncertainty and EFAMA says the asset management industry stands ready to play its part in the long road to economic recovery. To achieve this, a PRIIP KID that provides retail investors with the right information is ever more crucial in helping them to make informed investment decisions.
In a letter shared this morning with the European Commission, MEPs, and the three ESAs, EFAMA is calling upon legislators to examine the final report carefully.
EFAMA's statement highlights a number of key points including: