On 9 January 2016, the European Parliament and the European Commission have announced the one-year postponement of the PRIIPs Regulation implementation. The regulation will enter into force within the Member States on 1 January 2018, instead of 1 January 2017.
Currently, the European Commission is working with the European Supervisory Authorities (ESAs) in order to draft new Regulatory Technical Standards (RTS) regarding the drafting of Key Information Documents (KIDs). In particular, the ESAs will submit the revised RTS with the European Commission within 6 weeks starting from 9 January 2016. Afterwards, such RTS will be adopted by the European Commission and subsequently analysed by the European Parliament and the Council.
The whole procedure is expected to be concluded on the first-half of the next year.
For more details, please see the Commission's press release or contact the author.