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EBA, EIOPA and ESMA technical advice on minimum requirements for Packaged Retail and Insurance-based Investment Products (PRIIPs) with environmental or social objectives
European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority advice addresses four areas: i) the PRIIP manufacturer targeting environmental or social objectives has to clearly specify these objectives, together with an appropriate and proportionate strategy on how to achieve them; ii) the PRIIP manufacturer should disclose to the retail investors the objectives and how these will be achieved; iii) the PRIIP manufacturer has to install and well document governance and monitoring measures, where the latter need to be proportionate to the objectives and strategy of how to achieve the objective; and iv) the PRIIP manufacturer should conduct regular reviews on the progress made in achieving the specified and disclosed objectives.
Publisher:
Regional Standard-Setting Bodies
Release date:
Jul 2017
Type:
Consultative, discussion and issues paper
Topics:
Consumer education and protection
Sectors:
Banking, Insurance, Pensions, Securities
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