PRIIPs update

On 24 June 2022, the EU Commission finalised the last step necessary to align the end date of the exemption for UCITS funds to produce a PRIIPs KID i.e.  31 December 2022 ("UCITS Exemption"). Indeed, due to several previous postponements, the date of application of the PRIIPs Level 2 measures as amended by the Regulation (EU) 2021/2268  ("PRIIPs RTS") was not aligned with the end of the UCITS exemption. The Delegated Regulation (EU) 2022/975 published on 24 June 2022 provides that the new RTS PRIIPs will apply on 1 January 2023.

Therefore, as of 1  January 2023, UCITS funds will have to produce a PRIIPs KID and comply with the new PRIIPs RTS.