Goodbye Mr PRIIPS

Today the Association of Investment Companies (AIC) warmly welcomed the publication of HM Treasury’s consultation, ‘PRIIPs and UK retail disclosure’. 

Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “The investment company industry has just breathed a collective sigh of relief on seeing the proposed abolition of the PRIIPs Regulation. We have lobbied long and hard for the abolition of Key Information Documents (KIDs) which dangerously mislead investment company investors. 

“We applaud the abolition of PRIIPs and will be arguing for a disclosure regime which helps investors make better investment decisions and puts investment companies and open-ended funds on a level playing field. The FCA should act swiftly to sweep away the confusing mishmash of disclosures and put in place a fair and transparent framework.”