PRIIPs Update

The draft regulatory technical standards (RTS) for PRIIPs disclosures were published for consultation in November 2015. These cover the proposed detailed rules governing the disclosure document to be provided to consumers of Packaged Retail Insurance and Investment-Related Products (“PRIIPS”). Product providers (including insurers, banks and asset managers) must now prepare to meet the requirements by late 2016. This briefing note summarises the proposed requirements and the workplan needed to develop the required Key Information Document or KID. We also highlight how Milliman can help you to achieve a successful PRIIPs implementation.