Regulatory Alerts2018-02-20
FMA Circular on Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs)
The Austrian Financial Market Authority issued this circular to provide legal interpretation on the scope and presentation requirements for Key Information Documents under the PRIIP Regulation. It clarifies that insurance-based investment products with maturity or surrender values exposed to market fluctuations are in scope, while excluding term life, non-life, and certain occupational pension schemes. The guidance further specifies operational details regarding cost indicators, recommended holding periods, performance scenario terminology, and the conditions for updating documents.
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