FCA consultation on proposed rules and amendments to PRIIPs regulation

The Financial Conduct Authority (FCA) in July published a consultation paper seeking stakeholders’ views on proposed amendments to existing European Union (EU) regulation. The FCA’s proposals aim to address the most serious concerns raised in the responses to a call for input, and to advance consumer protection objectives. This paper, drafted by Milliman consultants in the United Kingdom, aims to summarise the key aspects of the consultation. The paper discusses proposed rules and overall considerations, and covers key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs).