The New KID Requirement for AIFs - Planning for the PRIIPs Regulation

The EU Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation is due to come into force on 31 December 2016. Non-UCITS funds which are made available to retail investors will be in scope at that date, meaning that firms producing such funds will need to prepare key information documents (KIDs) and firms selling them to retail investors will need to provide KIDs.

The complexity of the legislation and differing views of the European Regulators may mean the current implementation date is extended. However, with no definitive plans to extend and with only six months to go, what are you doing to prepare?

The new requirements are intended to make it easier for retail investors to compare products, increase customer value and force firms to think about how products are presented when distilled down to a uniform description. However the production of KIDs for each PRIIP will be time-consuming and costly and could provide regulators with opportunities to penalise those affected for non-compliant behaviour.

The requirements will also apply to UCITS following a three-year transitional period.

In this seminar we look at the regulation, the potential impact and risks and what you need to do to prepare.

The following topics will be covered:

• Core elements of regulation
  • PRIIPS KID obligations
• What do I have to produce?
  • Preparing for PRIIPS
  • Periodic ad hoc review and updating
• A comparison of PRIIPs KIDs with UCITS KIDs

Who is this seminar relevant to?

Managers and distributors of hedge funds, private equity funds, and other AIFs made available to retail investors.