Regulatory developments affecting how funds communicate with investors, ensuring transparency and compliance.
Monthly Updates
📅 Last Updated: 31/03/2025
| Sub Category | Region | Date of Update | Earliest Adoption Date (Can Apply) | Latest Adoption Date (Must Apply) | Update Title | Short Description | Details | FA Product Impact | Status | FA Outreach | Source Link |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PRIIPs KIDs | Ireland | Nov 27 2023 | Jan 1 2024 | Jan 1 2024 | PRIIPs KID Filing | PRIIPs KIDs to be filed with CBI | The Central Bank of Ireland has updated its guidance on the filing and submission requirements for PRIIPs KIDs for UCITS. The amended guidance clarifies that from 1 January 2024 that all PRIIPs KIDs updates need to be filed with the CBI. Filing may be made via the CBIs portal as an ad-hoc return. | No | No material impact to FA | Click to View | |
| Costs and charges | UK | Nov 30 2023 | N/A | N/A | FCA Statement re Consultation on Underlying Funds Costs | The FCA have issued a statement advising that they will be consulting regarding including the costs of close-ended funds as underlying fund costs in UCITS and PRIIPs costs and charges calculations. | The FCA have issued a statement advising that they will be consulting regarding including the costs of close-ended funds as underlying fund costs in UCITS and PRIIPs costs and charges calculations. | Yes | Completed as FCA subsequently issued interim forebearance | FA consulted with affected clients and changes made to calculations | Click to View |
| PRIIPs KIDs | UK | Nov 1 2024 | N/A | N/A | UK Chancellor advises of review of UK PRIIPS Regime | UK Chancellor advises that PRIIPS regime may be replaced in UK | Chancellor Jeremy Hunt plans to replace PRIIPs regulations with a new UK retail disclosure framework, which is expected to provide retail investors with the information they need to make informed decisions. The draft legislation for this new regime was published on November 22, 2023. The latest plan from the Treasury is to replace the existing regulations with a regulatory framework for Consumer Composite Investments (CCIs), which treat open-ended funds and investment trusts the same way | Yes | Replaced by CCI launch below | FA discussed impact with clients on scheduled calls | Click to View |
| PRIIPs KIDs | EU | Mar 15 2024 | Mar 15 2024 | Mar 15 2024 | ESMA PRIIPS Q&A Update | ESMA Issue update on PRIIPS Q&A | ESMA has updated its Consolidated Q&As on the PRIIPs KID with new questions and answers. Q&A 21, confirms that monthly data must be used for the calculation of performance scenarios, even where the NAV is available at more frequent intervals, in accordance with Annex IV, point 7(a) of the PRIIPs Delegated Regulation, etc. | No - as it codified the current practice that FA using | Closed - info only item | N/A | Click to View |
| PRIIPs KIDs | UK | Jul 2 2024 | o/s - news item | o/s - news item | Article re move by FCA to replace UK PRIIps Regmine regime | Article re move by FCA to replace UK PRIIps Regmine regime | The UK’s financial services regime will undergo changes regarding the regulation of PRIIPs. Instead of focusing on PRIIPs manufacturers and those advising on or selling PRIIPs, the new regime will regulate the activities related to manufacturing, advising on, and offering CCIs to UK retail investors. These designated activities will require disclosure under the overarching legislative framework set by the FCA. | Yes - but unknown until formal legislation issued | Replaced by CCI launch below | FA discussed impact with clients on scheduled calls | Click to View |
| PRIIPs KIDs | EU | Jul 2 2024 | N/A | N/A | REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information document | Report issued re potential modernisation of PRIIPs KIDs in EU. Digitalisation mentioned. | Recently there was a report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 as regards the modernisation of the key information document | Yes - but unknown until formal legislation issued | Closed - info only item | FA discussed impact with clients on scheduled calls | Click to View |
| EMT | EU | Apr-24 | N/A - proposal only | N/A - proposal only | Meeting proposes EMT v4.2 update | FA attended a meeting of FinDatex to review a proposed new EMT v4.2 | Arising from the meeting it is expected that an EMTv4.2 will be released in early April for go - live 30/6. Additional fields will be added to disclose underlying fund components of ongoing costs and existence of CFD disclosures under UK SDR. Upon publication Funds-Axis will seek to update our offering immediately. | Yes - but unknown until formal legislation issued | Replaced by EMTv4.2 launch below | N/A | https://www.findatex.eu/" target="_blank" rel="noopener">Click to View |
| EMT | EU | Apr 22 2024 | Apr 22 2024 | June 30 2024 | EMTv4.2 launched | EMTv4.2 launched | EMTv4.2 launched with new UK fields | Yes | Product updated and FA now live | Blog article and email to clients | https://www.findatex.eu/" target="_blank" rel="noopener">Click to View |
| PRIIPs KIDs | EU | May 20 2024 | N/A - proposal only | N/A - proposal only | ESG section in PRIIPs | Idea floated of including an ESG section in PRIIPS KIDs | EU cross border distributor confernece saw idea on new ESG section in PRIIPs being floated. Proposals included a fund comparison tool for ESG | Yes - but unknown until formal legislation issued | Watching brief | FA discussed impact with clients on scheduled calls | Click to View |
| PRIIPs KIDs | UK | May 24 2024 | N/A - proposal only | N/A - proposal only | New CCI regime advised on way | FCA chairman announced FCA working on new regime to replace PRIIPs in UK | FCA chairman announced FCA working on new regime to replace PRIIPs in UK | Yes - but unknown until formal legislation issued | Watching brief | FA discussed impact with clients on scheduled calls | Click to View |
| All | UK | Sep 30 2024 | Sep 30 2023 | UK Overseas Funds Regime advisory | UK Overseas Funds Regime go live from 30 September 2024 | UK Overseas Funds Regime go live from 30 September 2024 | No | Closed - info only item | N/A | ||
| All | EU | Aug 21 2024 | Nov 21 2024 | Nov 21 2024 | Guidelines on funds names using ESG or sustainability related terms | EU issues fund names guidelines re ESG | ESMA release guidance on fund names for ESGF rules | No - just potential name changes and document refreshes arising therefrom | Closed - info only item | FA discussed impact with clients on scheduled calls | Click to View |
| All | UK | Dec 2 2024 | Dec 2 2024 | UK Sustainability Discloure Regime go live remidner | UK Sustainability Discloure Regime go live remidner | Reminder that UK Sustainability disclosure and labelling regime goes live 2 December. Expect that this will lead to KIID renaming projects | No - just potential name changes and document refreshes arising therefrom | Closed - info only item | FA discussed impact with clients on scheduled calls | ||
| PRIIPs KIDs/UCITS KIIDs | UK | Dec 21 2024 | Consultation re CCI | Consultation open until 20 March 2025 | UK announced new Common Composite Investments Regime and advise new Consultation on way by December (Feb update - still outstanding). Expect legislation to be out by June (under douby now) with transition period until end 2026 in line with current PRIIPs exemption | Yes- Review in progress but changes likely to be December 2026 | Undergoing analysis | Click to View |