On 8 March 2019, the Joint Committee of European Supervisory Authorities (ESAs) published a letter to the European Commission regarding amending the PRIIPs Regulation to clarify the application of the key information document (KID) to multi-option products. The text of the draft regulatory technical standards (RTS) amending PRIIPs are annexed to the letter.
In their letter, the ESAs note that a public consultation was not held on the draft RTS as it would have been disproportionate, given that the draft RTS are a consequential amendment flowing directly from the decision to change the PRIIPs Regulation. The opinions of stakeholder groups have been gained in favour of the draft RTS.
The ESAs request the European Commission to decide whether to endorse the draft RTS before the end of the current legislative term of the European Parliament.