PIMFA’s response to ESMA; Consultation on amending the PRIIPs KID

PIMFA response to ESAs’ Joint Consultation Paper concerning amendments to the PRIIPs KID (JC 2019 63), where we outline serious concerns about the relevance, comprehensibility and overall value of KID disclosures for retail clients and about the myriad flaws of the wider PRIIPs regime, and call for a fundamental review of both the Level 1 PRIIPs Regulation (PR) and Level 2 Delegated Regulation (DR) with a view to establishing a radically revamped regime that both consumers and industry could have confidence in.