October 23, 2018

October 23, 2018

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October 22, 2018

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PRIIPs Regulations Published on the UK’s Statute Law Database

On December 5, the Packaged Retail and Insurance-based Investment Products Regulations 2017 (Regulations) were published on legislation.gov.uk website, the UK Statute Law Database, together with an explanatory memorandum (Explanatory Memorandum).

The Regulations implement, in part, certain provisions of the Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation. They will go into effect on January 1, 2018. Thereafter, Her Majesty’s Treasury will have to review the operation and effect of the Regulations and publish a report by January 1, 2023, and within every five years thereafter.

Among other things, the Regulations:

  • Designate the FCA as the competent authority for the purposes of the PRIIPs Regulation; and

  • Provide the FCA with the power to prohibit or suspend the marketing of a PRIIP, prohibit the provision of a key information document (KID), or require the publication of a new version of a KID where certain requirements of the PRIIPs Regulation have been infringed.

The website is available here;

©2018 Katten Muchin Rosenman LLP

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About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Neil Robson, private equity fund managers counselor, Katten Law Firm, London
Partner

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of financial services groups, and structuring and marketing of investment funds. Neil is a frequent speaker at industry conferences regarding developments in UK financial services regulation, including the AIFM Directive, short selling and market abuse.

44-0-20-7776-7666