Update: EC Prips Regulation due for publication on July 3; latest draft shifts burden further towards structured product creators
Europe's laws on the key information document (Kid) and packaged retail investment products (Prips) are scheduled for implementation on July 3. The latest draft suggests more onerous responsibility for product providers
The near final text of the European Commission's (EC's) packaged retail investment products (Prips) regulation has added 'reverse burden of proof' to the previous draft and aimed responsibility for the creation of the key information document (Kid) squarely at investment banks, reflecting a harder line taken by the EC on the creation of investment products by investment banks for retail investors.
"I am not surprised," says Tim Hailes, chairman of the Joint Associations Committee (Jac) and
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