PRIIPs KID: update

1. Update of CSSF FAQs with respect to the PRIIPs KID

On 16 December 2022, the CSSF updated the following FAQs with respect to the PRIIPs KID in light of the UCITS exemption that will expire on 31 December 2022:

• the FAQ concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment;
• the FAQ on the KIID;
• the FAQ concerning the Luxembourg Law of 12 July 2013 on alternative investment fund managers; and
• the FAQ concerning SIFs and SICARs that do not qualify as AIFs.

Each of these documents are detailed in the  article published on our website.

2. Update of ESA Q&As on the PRIIPs KID

On 14 November 2022 and 21 December 2022, the European Supervisory Authorities ("ESAs") published an updated version of their Q&A on the on the PRIIPs Key Information Document (KID). The document now includes both Q&As relating to:

• the rules originally included in Commission Delegated Regulation (EU) 2017/653 (“Regulation 2017/653”) supplementing the PRIIPs Regulation;and
• the amendments introduced in Commission Delegated Regulation (EU) 2021/2268 (“Regulation 2021/2268”) that are only applicable as from 1 January 2023.

The key changes are addressed in the aforementioned  article available on our website.