Advisers join asset manager KID reform push
International advisers have joined European fund managers in a call to reform key information documents for packaged retail and insurance-based investment products – six months into implementation.
International advisers have joined European fund managers in a call to reform key information documents for packaged retail and insurance-based investment products – six months into implementation.
The Isle of Man Financial Services Authority has revealed how insurers headquartered on the island will have to provide clients with information about commission and fees from 1 January 2019.
The European Union has finally published details of its key information document (Kid), which are part of the controversial Priips guidelines, despite continued criticism from various industry bodies.
The European Commission’s one-year extension to the introduction of key information documents (Kids) for packaged retail and insurance-based investment products (Priips) has been welcomed across the investment sector.
Confusion surrounds key information documents
The Isle of Man regulator has announced plans to make it mandatory for international life companies based on the island to disclose to retail customers all commissions being paid to their financial adviser.
Paul Stanfield, head of The Federation of European Independent Financial Advisers, has slammed the key information document (Kid) as “unworkable”, warning that implementing it in its current form would reduce choice for consumers.
Europe’s main asset management trade body has slammed the new consumer information requirements for those selling packaged retail and insurance-based investment products as a “danger” to investors.
The Association of International Life Offices (Ailo) has called on the European Commission to abandon a clause in the upcoming Priips regulation that will require fund manufacturers to provide KIDs on open-architecture bonds.
Kii Hub has made two senior hires.
KNEIPs Damien Coméliau explains the challenges of introducing Key Investor Information Documents.
While providers prepare for the costs of the KII, CSSF warns there could be more changes ahead.