From 1st January 2017 KIDs must be provided to retail investors for all packaged retail and insurance based products (PRIIPs).
PRIIPs (Packaged Retail and Insurance-based Investment Products) is the first Regulation on a European level to deal with pre-contractual information for certain financial services products.
The aim of the Regulation is to encourage efficient EU markets by helping investors to better understand and compare the key features, risks, rewards and costs of different PRIIPs, through access to a short and consumer-friendly Key Information Document (KID).
From 1st January 2017 a PRIIP manufacturer (or any other person who changes an existing PRIIP, such as a distributor) is required to: