Michael Holland, Managing Director of FE, has today sent an open letter to the chairmen of the three European Supervisory Authorities (ESAs) and to several investment trade publications.
FE supports the focus on increased transparency and the need to ensure that there is no conflict of interest.
At least one prediction has been right today, as the European Commission’s Vice President Valdis Dombrovskis confirmed it has recommended a delay of 12 months to December 2017 for PRIIPs KIDs at its meeting on 9 November. This means that PRIIPs will go live at the same time as MiFID II, which was itself delayed by a year.
The latest provisional agenda for the European Commission, issued on 24 October, shows that the discussion on a possible delay to the PRIIPs regulation has been brought forward from 22 November to 9 November.
At a panel discussion hosted by the Greens and the European Free Alliance at the European Parliament yesterday (19 October), Ugo Bassi of DG FISMA, the Financial Services directorate of the European Commission, was questioned on the timetable for PRIIPs, as the uncertainty is causing big problems and adding to costs across the industry.
The PRIIPs regulations are set to come into effect from 31st December 2016, however, there are several uncertainties around the guidelines, especially since the rejection of the regulatory technical standards (RTS) by the European Parliament.
First published in Investment Week, 30 September 2016
With the majority of selectors recommending the same 20% of funds, FE's Mika-John Southworth explores why 'big brand' funds continue to be favoured despite performance issues.
FE Analytics has won the award for the ‘Leading Independent Planning Tool Provider’ at the Schroders’ UK Platform Awards – marking this the sixth time the planning tool has won the award since 2010.
On 14 September the European Parliament, as expected, followed the lead of its Economic and Monetary Affairs Committee (Econ) by voting 602 to 4 to reject the Level 2 rules as set out in the Regulatory Technical Standards (RTS) proposed by the Commission.