marcus evans organize the Operational and Technical Challenges for PRIIPs Conference

30 March 2017

The Regulation on KIDs for PRIIPs has been plagued by delay, meaning financial institutions are undertaking a stop-start implementation process. The industry is crying out for more detail and clarity on a wide variety of different areas, whether this be transaction costs or performance scenarios, or even the types of products that require a KID. It is a regulation that despite industry resistance and although with an admirable aim of improving the information given to retail investors, must be implemented by January 2018.

Implementation was expected in January 2017 but rejected of the level 2 regulatory technical standards by the European Parliament in September 2016, led to the delay in implementation to coincide with another significant and wide-reaching European regulation – Markets in Financial Instruments Directive II. The difficulty of the PRIIPs document is ultimately the issue of creating a document that achieves completeness with regard to the detail surrounding a product, in addition to being concise - a maximum of three pages – yet being clear for a retail investor, who perhaps has a limited technical knowledge.

Transitional arrangements for UCITS funds who need not comply for a further two years only adds to the confusion with anecdotal comments suggesting that data requested by insurance brokers from asset managers has led to the latter scrambling for the data due to this confusion.

This marcus evans event will enable financial institutions to discuss the practical challenges that are involved with the generation and review of the KIDs, as well as numerous issues – whether legal, classificatory or definitional – that are causing confusion. By understanding the current regulation correctly, financial institutions will be able to confidently proceed with the implementation comfortable in the knowledge that they are progressing in the same way as other institutions, and as the regulators wish.

Expert Speaker Panel:

  • Markus Camenisch, Head of Regulatory Projects Products, UBS Wealth Management
  • Dan Hedley, Director of Regulatory Policy, Fidelity International
  • Sarbjit Panesar, Global Head of Business Development – Insurance, Société Générale Securities Services
  • Tim Walters, Expert on Conduct of Business Policy, EIOPA
  • Sean Tuffy, Head of Regulatory Intelligence, Brown Brothers Harriman
  • Darryl Cornelius, Head of European Regulatory Projects, State Street Global Advisors

Learn from Key Practical Case Studies

  • EIOPA discusses the development of the Regulation on KIDs for PRIIPs and looks at where we are now
  • UBS Wealth Management looks at the logistical processes required in providing the KID to the client
  •  Banco Santander investigates how to successfully manage the manufacturer-distributor relationship.
  • Cube Investing investigates the measures required in the assessment of the level of risk for a particular product

The Operational and Technical Challenges for PRIIPs Conference will take place on 26-27 June in, London, UK. For more information please visit: https://goo.gl/AK0dcg or you can contact Yiota Andreou at Yiotaa@marcusevanscy.com  

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