In This Issue:

- No More KIDding Around: European Parliament Approves PRIIPs Regulation

- FINRA Amends Rule 5110 to Exempt Certain Collective Investment Vehicles from Its Filing Requirements

- The Time for the SEC Action on FINRA’s Proposed Amendments to Communication Rules Extended to June 27, 2014

- 3rd Annual North American Structured Products Conference

- Excerpt from No More KIDding Around: European Parliament Approves PRIIPs Regulation:

Almost two years after the European Commission published its draft Regulation (the “Regulation”) relating to packaged retail investment products (“PRIPs”), the European Parliament finally approved, with amendments, the Commission’s proposal on 15 April 2014. The Regulation is expected to be adopted by the Council into law in the summer of this year, and will apply two years after it comes into force. As an EU Regulation, it will be directly and uniformly applicable in all Member States, and will have a substantial impact on the documentation used in offerings of structured products to retail investors in the EU.

The Regulation essentially introduces a new pan-European pre-contractual product disclosure regime for packaged investment products. The principal aim of the Regulation is to ensure that retail investors are able to understand and compare the key features of different packaged investment products, regardless of their legal form. It does this by obliging product manufacturers and distributors respectively to produce and provide to retail investors key information documents (“KIDs”) for certain packaged investment products.

Please see full issue below for more information.

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Topics:  Compliance, EU, Financial Regulatory Reform, FINRA, Foreign Investment, Investors, SEC

Published In: General Business Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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