Gerhard Jovy, founder and CEO of acarda, the platform for compliance and regulatory reporting in the investment management industry, on the management of sustainable investment opportunities.
According to information from the German Investment and Asset Management Association (BVI) dated May 21, 2021, the EU Commission plans to delay the start of PRIIPs-KIDsby six months. A package of measures, which will include not only technical adjustments to Level 2 but also a selective amendment to the Level 1 Regulation, is to be forwarded by the EU Commission to the EU Parliament and Council before the end of June 2021.
The updated Capital Requirements Regulation, known as CRR II and laid out in Regulation (EU) 2019/876, will come into force end of June 2021. While the update in general encompasses numerous topics in relation to Pillar I of the regulation, only some of them will be immediately relevant for the fund industry and associated service providers.
More transparency for PRIIPs KIDs: Holistic and automated reporting reduces costs and gives clients a competitive edge
The regulatory dynamics on the capital market will remain high over the coming years. In 2022, following approval by the European Commission and the European Parliament, the new Regulatory Technical Standards (RTS) for Key Information Documents (KIDs) of Packaged Retail Investment and Insurance-based Products (PRIIPs) with a revised performance calculation and different methods for calculating transaction costs will come into force.
07. May 2020 – It is as yet unclear whether the European Market Supervisory Authority (ESMA) will realise its intended adjustments
to the financial market directive MiFid II/MiFIR for this year despite the Corona pandemic.
However, an adjustment to the PRIIPs regulation for packaged
retail and insurance-based investment products seems certain. In the long term,
no slowdown in regulatory dynamics for asset managers is to be expected.