Packaged retail and insurance-based investment products (PRIIPs): modernisation of the key information document

It affects retail investors considering packaged investment or insurance-based investment products, and consumers comparing costs, risks, sustainability features, and options before investing.

• Adds a “Product at a glance” dashboard summarising product type, risk, costs, holding period, and insurance benefits.
• Creates a sustainability section showing taxonomy-aligned investment share and expected greenhouse gas emissions intensity.
• Requires tools for comparing investment options and costs in multi-option PRIIPs.
• Makes electronic delivery the default, while preserving a free paper copy on request.

Takes effect

It enters into force twenty days after Official Journal publication and applies 18 months after entry into force.

Transitional law

Application is deferred for 18 months to allow technical standards and manufacturer preparation.

• Regulation (EU) No 1286/2014 (32014R1286)
  • art. 2(2): replaces point (d) and adds point (h)
  • art. 3(1): replaces paragraph 1
  • art. 4(1): adds exclusion for fluctuations only from make-whole clause
  • art. 4(7a): inserts definition of electronic format
  • art. 6(3): replaces paragraph 3 on multi-option PRIIPs information and costs
  • art. 8(3): adds point (aa), deletes point (b), replaces point (c)(ii), inserts point (ga)
  • art. 8(4): deletes paragraph 4
  • art. 8(5): replaces third subparagraph on RTS submission deadline
  • art. 10(2): replaces point (b) and second and third subparagraphs
  • art. 14: replaces Article 14 on providing key information documents