The regulation aims to improve the protection of retail investors. The disclosure of mandatory information defined by PRIIPs via the standardized Key Information Document, or KID for short. Since January 2018, this has been the case in particular for capital-forming life insurance policies and certificates. Fund companies can still use the UCITS KIID temporarily until December 31, 2021.
According to information from the German Investment and Asset Management Association (BVI) dated 21 May 2021, the EU Commission plans to extend the transitional period until 1 July 2022. An approval is still pending.
must be able to calculate and transmit their PRIIPs data according to EPT and CEPT standards. The collection, verification, calculation and the subsequent creation of the KIDs place high demands on data and process management. It is important to find a solution that minimizes your own effort and costs.
must first determine their PRIIPs data and then forward it to the insurance company. This is usually done in EPT and CEPT format. Again, the challenge is to find an efficient, cost-reducing solution.