The European Supervisory Authorities (ESAs) have informed the European Commission of the outcome of the review conducted by the regulators of the key information document (Kid) for packaged retail and insurance-based investment products (Priips).
In a letter to the Commission’s Directorate-General Financial Stability, Services and Capital Markets Union (Fisma), the European regulators stated that they are not in a position to formally submit the RTS to the Commission ‘given that the draft RTS was not adopted by the three ESA Boards’. The draft RTS was adopted at the European Banking Association (EBA) and European Securities & Markets Authority (Esma) boards on the basis of qualified majority voting. However, the Eu
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