Both in-house and private practice industry participants
have welcomed the one-year postponement of contested new rules
for packaged retail products – but they have stressed
the importance of working quickly to resolve the issues.
The European Commission made the announcement
on Wednesday while the world was distracted by the US
presidential election. This is the second large piece of
financial regulation that’s been postponed this
year, after the Markets in Financial Instruments Directive
(Mifid) II was
formally delayed in February.
European Parliament overwhelmingly rejected the RTS
in SeptemberThe rules for packaged retail and
insurance-based investment products (Priips) have been
criticised from the beginning for...