What does it plead for?
Let's find out!
Brussels, 23 February 2021: EUSIPA pleads for exempting structured PRIIPs from new RTS.
Oh God! Really? Jesus! 'Is there a problem, boss?' Eh? 'Is there a problem?' Er, no, Voice. I'm just being ... dramatic, like. 'Nice one!'
Ha!
Anyway ...
EUSIPA unreservedly supports the ambition of the EU PRIIPs Regulation to establish an EU-wide standard for delivering correct, non-misleading and comparable product information to retail investors. It also recognizes the challenges involved in bringing a diverse range of asset classes into the scope of the PRIIPs Regulation.
Well, okay.
EUSIPA seeks to alert the relevant institutions, however, that the redrafted version of the PRIIPs Regulatory Technical Standards (RTS) finalized by the ESAs in early February does not meet the technical requirements across a broad range of packaged investment products. The implementation of these RTS once more risks providing incorrect and inconsistent information in the Key Information Documents (KIDs), especially for Category 1 and 3 products.
Okay.
I'll tell you what I hate, Voice. 'What?' People having their bullshit mobile phone conversations outside, so the whole street can hear them. I mean, WTF?! Do you know what I mean? 'Yeah.'
Anyway ...
EUSIPA also is highly concerned that the envisaged timeline for implementing the new RTS by January 2022 will derail their successful roll-out. This is because the "Level 1" review of the PRIIPs Regulation scheduled to bring results in about 18-24 months from now will inevitably lead to yet more changes to the RTS ruleset, if not their complete overhaul.
Well, never mind.
Now, the way I see it ... I've got two choices. I can play Oxygene on my media player. Or I can find a YouTube video to watch. 'Watching a YouTube video might put you off your writing.'
Oxygene it is then! 'Why do you want to listen to that, boss?!' I have absolutely no idea.
Anyway ...
Oh, this PR email goes on forever!
Let's just finish with the Heike voice ...
Heike Arbter, EUSIPA chairwoman, says: "At the retail point of sale, technically insufficient new RTS and such that allow product manufacturers to apply individual methodologies will render many KIDs incorrect and incomparable. This will have a detrimental effect on the retail customers' understanding and willingness to invest. In addition, the uncertainty of yet another change to the RTS ruleset in the near term will deter many distributors from engaging with retail customers on future investment opportunities."
Well, it is a problem, I suppose.
Thanks, Heike!
ENDS
...
Anything else?
Okay, okay. I had pizza tonight.
I need a haircut. I'm definitely not looking like the King of Cool at the moment.
This Oxygene is pissing me off.
'Put another album on.'
This post is nearly finished, Voice. I'll find a video on YouTube.
Life will get back to normal soon. If I can get those three songs I need ... I won't live a "normal" life no more.
I'm going to put another album on ...
Apollo - !!!
