The Committee on Economic and Monetary Affairs adopted the report by Pervenche BERÈS (S&D, FR) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products as regards the date of its application.
The committee recommended that the European Parliament approve the Commission proposal without amendment.
The proposal seeks to defer the date of application of Regulation (EU) No 1286/2014 by 12 months, until 1 January 2018, in order to reduce legal uncertainty and give more time to PRIIPs manufacturers to prepare for the application of the new rules.
On 14 September 2016, the European Parliament objected to the delegated regulation adopted by the Commission on 30 June 2016 and called, together with a large majority of Member States, for a deferral of the date of application of Regulation (EU) No 1286/2014.