Last week, ESAs joint Committee published the transcript of the opening remarks of EIOPA’s Chairman Gabriel Bernardino delivered in Dublin last month. Concerning #PRIIPs he said:” we are currently in the process of carrying out a targeted review of the existing Level 2 regime, complemented by consumer testing and close engagement with external stakeholders. We want to learn the lessons from the past and move forward” …. “What we really need to do is take a step back and consider what the original objectives of the PRIIPs proposals were, namely to provide consumers with simple information to better understand the associated costs, risk and performance features embedded in the retail investment products they buy.”
It looks that the focus has changed from comparability between retail financial products to a better understandable information, probably leading to sectoral specificities. The recent #PEPP KID may be considered as an example.
