ESAs Publication of Call for Advice with Respect to the Review of the PRIIPS Regulation

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt ESAs Publication of Call for Advice with Respect to the Review of the PRIIPS (Packaged Retail and Insurance-Based Investment Products) Regulation Background On the 27 July 2021, the European Commission requested evidence concerning multiple aspects of the Packaged Retail and Insurance Based Investment Products (PRIIPs) Regulation (“the PRIIPS Regulation”). Such request is closely connected to the European Commission’s Capital Markets Union Action Plan and its future strategy for retail investments in Europe. This Action Plan aims to finance the green and digital transitions of the continent’s economy, and also to boost market-based financing in the European Union to help guide a return to long-term growth. Through its strategy for retail investors, the European Commission hopes consumers will be offered increased investment opportunities and stronger investor protection on the capital markets. PRIIPs cover a range of products marketed to retail investors, known as insurance-based investment products, structured products and derivatives. In view of the variety and complexity of PRIIPs, it is important that consumers have access to comprehensive information about them, for which such detail is included in the KID. Publication of Call for Evidence for PRIIP Review The European Supervisory Authorities (ESAs) have opened a call for evidence regarding the PRIIPs (Packaged retail and insurance-based investment products) Regulation. The input provided will feed into the ESAs’ technical advice to the European Commission on a review of the key information document (KID) for PRIIPs. Stakeholders are being invited to provide feedback, including the practical application of the existing KID such as its use by financial advisors or the use of digital media, the scope of the PRIIPs Regulation and the degree of complexity and readability of the KID. The deadline for the submission of feedback is until Thursday 16December 2021, and such feedback can be submitted on the websites of EIOPA, ESMA or EBA. In this regard, we would appreciate if a copy of the feedback provided is also sent to the Authority at the email address below. 4 November 2021

Circular Triq l-Imdina, Zone 1 Central Business District, Birkirkara CBD 1010 +356 2144 1155 communications@mfsa.mt www.mfsa.mt Contacts Any queries on this circular should be addressed to csuinsurance@mfsa.mt.