In April 2014, the European Commission, the European Parliament and the Council of Ministers agreed on regulations related to what are defined as Packaged Retail Investment and Insurance-Related Investment Products (PRIIPS).
Firms will face challenges in meeting new requirements related to PRIIPS, which will go into effect at the end of 2016. A large amount of preparatory work is required in advance and on an ongoing basis for compliance. The new regulations are likely to have an effect on the product offerings in the market and influence customers’ behaviour.