PRIIPs Regulation: Difference between revisions
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imported>Doug Williamson (Create page. Sources: ACT Membership Newsletter Sep 2021 - FCA webpage - https://www.fca.org.uk/firms/priips-disclosure-key-information-documents) |
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The aim of the PRIIPs Regulation is to help investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a Key Information Document (KID). | The aim of the PRIIPs Regulation is to help investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a Key Information Document (KID). | ||
:<span style="color:#4B0082">'''''FCA's power to replace retail investment disclosure framework '''''</span> | |||
:"[The UK Consumer Composite Investments (Designated Activities) Regulations] came into force on 22 November 2024. | |||
:These regulations grant the FCA the power to construct and deliver a new retail disclosure framework for Consumer Composite Investments (CCIs), to replace the UK’s EU inherited PRIIPs regime. " | |||
:''Association of Corporate Treasurers - James Leather MCT - 19 December 2024.'' | |||
:<span style="color:#4B0082">'''''FCA consultation on PRIIPs Regulation '''''</span> | :<span style="color:#4B0082">'''''FCA consultation on PRIIPs Regulation '''''</span> | ||
:"For many corporate bond issuers, it is not clear whether they fall within the scope of the PRIIPs Regulation. | :"For many corporate bond issuers, it is not clear whether they fall within the scope of the PRIIPs Regulation. | ||
| Line 17: | Line 25: | ||
:Neither of these solutions is particularly attractive and, as part of [its] consultation, the FCA are looking to clarify definitions." | :Neither of these solutions is particularly attractive and, as part of [its] consultation, the FCA are looking to clarify definitions." | ||
:''Association of Corporate Treasurers - September 2021 Membership newsletter'' | :''Association of Corporate Treasurers - September 2021 Membership newsletter.'' | ||
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*[[Bond]] | *[[Bond]] | ||
*[[Change of control put]] | *[[Change of control put]] | ||
* [[Consumer Composite Investments]] (CCIs) | |||
*[[Debt capital market]] (DCM) | |||
*[[European Union]] | *[[European Union]] | ||
*[[Financial Conduct Authority]] (FCA) | *[[Financial Conduct Authority]] (FCA) | ||
*[[Framework]] | |||
*[[Issuer call]] | *[[Issuer call]] | ||
*[[Key Information Document]] (KID) | *[[Key Information Document]] (KID) | ||
*[[Make whole]] | *[[Make whole]] | ||
*[[PRIIP]] | *[[PRIIP]] | ||
*[[Regime]] | |||
*[[Regulation]] | *[[Regulation]] | ||
*[[Retail]] | *[[Retail]] | ||
* [[Retail bond]] | |||
* [[Retail inclusion]] | |||
* [[UK Consumer Composite Investments (Designated Activities) Regulations 2024]] | |||
==Other resource== | |||
*[https://www.treasurers.org/hub/blog/uk-debt-capital-market-reform-retail-inclusion UK Debt Capital Market Reform & Retail Inclusion – where are we now? - James Leather MCT - December 2024] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category: | [[Category:Financial_products_and_markets]] | ||
[[Category: | [[Category:Identify_and_assess_risks]] | ||
[[Category:Investment]] | [[Category:Investment]] | ||
[[Category:Long_term_funding]] | [[Category:Long_term_funding]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category:Risk_reporting]] | |||
[[Category:Risk_frameworks]] | [[Category:Risk_frameworks]] | ||
[[Category: | [[Category:The_business_context]] | ||
Latest revision as of 21:16, 24 December 2024
Retail investor protection - UK - Financial Conduct Authority - European Union.
Abbreviation for the Packaged Retail and Insurance-based Investment Products Regulation that has applied in the UK since 1 January 2018.
The aim of the PRIIPs Regulation is to help investors to better understand and compare the key features, risk, rewards and costs of different PRIIPs, through access to a Key Information Document (KID).
- FCA's power to replace retail investment disclosure framework
- "[The UK Consumer Composite Investments (Designated Activities) Regulations] came into force on 22 November 2024.
- These regulations grant the FCA the power to construct and deliver a new retail disclosure framework for Consumer Composite Investments (CCIs), to replace the UK’s EU inherited PRIIPs regime. "
- Association of Corporate Treasurers - James Leather MCT - 19 December 2024.
- FCA consultation on PRIIPs Regulation
- "For many corporate bond issuers, it is not clear whether they fall within the scope of the PRIIPs Regulation.
- Evidence collected by the FCA identified a particular problem in relation to debt securities which are not necessarily complex but include commonly used features such as issuer calls (make whole) and change of control puts.
- Arguably, these features trigger the PRIIPs regulations and therefore issuers either produce a KID or, more commonly, make the offering ineligible to retail investors.
- Neither of these solutions is particularly attractive and, as part of [its] consultation, the FCA are looking to clarify definitions."
- Association of Corporate Treasurers - September 2021 Membership newsletter.
See also
- Bond
- Change of control put
- Consumer Composite Investments (CCIs)
- Debt capital market (DCM)
- European Union
- Financial Conduct Authority (FCA)
- Framework
- Issuer call
- Key Information Document (KID)
- Make whole
- PRIIP
- Regime
- Regulation
- Retail
- Retail bond
- Retail inclusion
- UK Consumer Composite Investments (Designated Activities) Regulations 2024
