PRIIPs Regulation and its Implementation: Consequences and Challenges

November 2015

Abstract

From 31 December 2016, manufacturers and distributors of packaged retail and insurance-based investment products (PRIIPs) will have to comply with the Regulation on Key Information Documents for Packaged Retail and Insurance-based Investment Products , the PRIIPs KID Regulation, which came into force in all EU member states on 29 December 2014. The PRIIPs KID Regulation obliges manufacturers of PRIIPs, such as fund managers, insurance companies, credit institutions and investment firms, to produce a clear, concise document – the Key Information Document or KID – where such products are targeted at retail investors, and sets out rules for the content and format of the KID, as well as for its review and the timing for delivery.

Author

Emilia Petrocelli

Senior Compliance Officer, Mediobanca SpA, Italy

Emilia Petrocelli: Graduated in Law and in Economics summa cum laude, she began her career in 2002 at the Consob, Italy’s stock market and corporate regulatory body, in the Supervision Department of Banks and Financial Intermediaries, where she took part in the review of the Italian Consolidated law on Finance, for the implementation of MiFD. In 2007, she joined IW Bank, the online bank of UBI Banca Group, where she held the roles of chief legal officer and chief compliance officer. In 2011-2012, she took part in the constitution of the Italian branch of the Dutch bank BinckBank NV, with the role of chief legal and compliance officer. In 2013, she joined Mediobanca, where she is senior compliance officer.

Company

Mediobanca SpA

Mediobanca – Banca di Credito Finanziario is the leading Italian investment bank. Mediobanca Group operates through three divisions: Corporate & Private Banking, which provides investment, corporate and private banking services in Italy and the leading European countries through its branch offices; Consumer & Retail Banking, which brings together the Group’s retail banking (Compass, CheBanca!); Principal Investing, which bring together all equity investments and AFS.

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