Structured Thoughts: News for the financial services community - Volume 1, Issue 15 - November 2010

more+
less-

Joint Report of the 3L3 Task Force on PRIPs

On 6 October 2010, a task force of the three Level 3 Committees, comprising the Committee of European Securities Regulators (“CESR”), the Committee of European Banking Supervisors (“CEBS”) and the Committee of European Insurance and Occupational Pensions Supervisors (“CEIOPS”), published a joint report (the “Report”) on packaged retail investment products (“PRIPs”).1

The task force was established following the announcement by the European Commission (the “Commission”) in April 2009 of its initiative on packaged retail investment products (“PRIPs”), in order to assist the Commission’s ongoing work on this policy area as it formulates the legislative proposals.2

In a covering letter to the Commission,3 the Committees explained that they had sought to form consensual views, but that not all parts of the Report were consensual. Alternative positions have been expressed where a consensus has not been possible and further discussion among the task force members is required.

The Report focused on three key aspects of PRIPs: (i) the scope of the PRIPs regime; (ii) the product disclosure requirements for PRIPs; and (iii) the regulation of their selling practices.

We summarise below the main comments and suggestions of the task force contained in the Report.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.


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.

© Morrison & Foerster LLP | Attorney Advertising

Written by:

more+
less-

Morrison & Foerster LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×