PRIIPs Compliance with CSS
The PRIIPs KID stipulation covers packaged retail products such as funds, insurance‐based investments, structured products, derivatives and investments issued by some special purpose vehicles. From the end of 2019 UCITS funds will also be included in the PRIIPs KID framework. Manufacturers will have to produce the KID, containing information about a product’s key features, risks, and costs. External providers of funds that are wrapped by insurance‐based investment products, or indeed included in multi‐option investment solutions, will be required to provide some of the data and documents needed by their PRIIPs manufacturer clients. Distribution channels and intermediaries will be responsible for delivering the KID to the end investor in good time.
EPT Generation and Distribution
Asset management firms will be expected to create EPT (European PRIIPs Template) data files to support their wholesale clients who package investment funds in PRIIPs.
EPT Collection
PRIIPs manufacturers that use external management firms and structured product issuers will need to liaise with numerous external firms to collect EPT data templates for timely, accurate and efficient KID production.
Transaction Cost Calculation
PRIIPs manufacturers and underlying investment managers are required to calculate three‐year averages for transaction costs to facilitate cost disclosure requirements within the KID.