Although the FCA’s proposed changes to the way in which product performance and risk are calculated and presented in the KID may provide some short-term relief from the most problematic elements of the regime, they will not address the fact that the regime as a whole is lacking in cogency and effectiveness.
We believe that, without fundamental review, the Priips regime will do more harm than good, providing consumers with sub-standard disclosures produced by companies that are obliged to follow sub-standard rules.
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Liz Field is chief executive of Pimfa
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