In a plenary session on 23 November, the European Parliament extended the transitory period for the use of PRIIPs KIDs,
giving asset managers until 1 January 2023 to comply with the new requirements.
The postponement follows the extended validity of the UCITS Directive to 31 December 2022. The synchronisation of these deadlines is intended to avoid a situation where investors receive two documents at the same time, one for UCITS KIID and another for PRIIPs KID.
This means that from now on there will also be clarity regarding the deadlines for the transition from UCITS to PRIIPs. Although this gives asset managers some more time for the transition, we advise firms to organise their data management and regulatory reporting early on in line with the future RTS.
With ouracarda platform solution, you can centralise your data management and automation of the complete generation process of KIIDs, KIDs and EPTs. This reduces asset managers’ effort of adhering to these regulations to a minimum.
Our experts will be happy to advise you on the details.