There are two PRIIPs information exchange templates:
Overview
The European PRIIPs Template (EPT)
– Includes the minimum data necessary that asset managers will deliver free of charge to insurers for them to produce a key information document according to the provisions of the PRIIPs Regulation.The “Comfort” EPT (CEPT)
– The CEPT is designed to permit manufacturers to deliver additional data via two separate templates.i. The first template is designed to cater for the delivery of daily NAV prices. In practice there has been little or no adoption of this template as NAV price dissemination continues to take place using individual administrators’ standard templates.
ii. The second template is designed to allow for manufacturers to deliver costs and future performance scenarios, using the RHPs of the end-products that the product is wrapped in, rather than those of the product itself (which is already included in the EPT). In practice, this is very commonly required where products are disseminated in Germany due to the long-duration RHPs of a lot of their pension and investment products.
The templates are meant to provide a functional description of the set of data to be exchanged from asset managers to insurers to help them fulfil their PRIIPs regulatory obligations.
The templates were originally published in July 2017 (version 1.0). The EPT has gone through a number of iterations, with EPT Version 1.1 being adopted in October 2017. This was further updated by EPT v2.0 in February 2022 and EPT v2.1 in September 2022. Currently EPT v2.0 and EPT v2.1 co-exist as allowable formats.
The difference between EPT v2.0 and EPT v2.1 is that additional fields have been added to cater for the new UK PRIIPs Regime introduced by FCA in March 2022.
The Comfort EPT has also gone through a number of iterations, with an update to CEPT v1.1 in February 2019 and a further updated to CEPT v2.0 in May 2022.
The use of the templates is not compulsory, but they are endorsed by FinDatEx who strongly encourage stakeholders to use of the most recent versions of the templates to ensure operability amongst all users.