PRIIP products are packaged, insurance-based investment products for non-professional investors. The bill will enter into force on 1 January 2018 and will mandate new requirements for product fact sheets.
PRIIP aims to improve the transparency regarding packaged, insurance-based investment products. The Regulation requires the seller and broker of the insurance covered by the regulation, to provide a fact sheet, a so-called Key Information Document (KID), to any non-professional investors. The purpose of the regulation is to strengthen investor protection and to increase confidence in the financial market.
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