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Debates
Wednesday, 14 September 2016 - Strasbourg Revised edition

Commission Delegated Regulation supplementing Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (B8-0974/2016)
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  Marian Harkin (ALDE), in writing. ‒ I voted in favour of this resolution that calls on the Commission to consider a proposal postponing the application date of Regulation (EU) No 1286/2014 to ensure a smooth implementation of its requirements and an objection to the Commission’s delegated regulation. This delegated regulation lacks detailed guidance, and if left unchanged there is a risk that the rules set out in the delegated regulation stand to go against the spirit and aim of the legislation, which is to provide clear, comparable, understandable and non-misleading information on PRIIPs to retail investors.

The Commission now needs to submit a new delegated act which will take into account this concern as well as others. One other particularly important concern is that they must ensure that consumer information on investment products is comparable. This is necessary to promote a level playing field in the market, no matter what type of financial intermediary manufactures or markets them.

 
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