Parliament to demand better protection for small investors
Small investors need better information about the possible risks and fees for investment products they might buy, say MEPs. They have criticised as “flawed and misleading” proposed rules on a key information document supplied by investment providers to buyers of consumer investments.
Parliament will vote Thursday on a resolution which gives the EU Commission one year to come up with better measures requiring providers of “packaged retail and insurance-based investment products” (PRIIPs) to produce a “Key Information Document” explaining the main features of their products.
The Economics and Monetary Affairs Committee rejected draft rules for the KID in September, saying they failed to protect investors adequately. If the resolution for a delay is passed on Thursday, the KID could be introduced from 1 January 2018.
Procedure: Co-decision (Ordinary Legislative Procedure)
Vote: Thursday, 1 December