11 Amendments of Frances FITZGERALD related to 2023/0166(COD)
Amendment 23 #
Proposal for a regulation
Recital 3
Recital 3
(3) In the case PRIIPs offer the retail investor a range of options for investments, the information on those various options may beis contained in different documents. That makes it difficult for retail investors interested in purchasing such PRIIPs to identify the total costs of the PRIIPs. It is therefore necessary to provide retail investors with tools, including simulation tools, to access and compare the total costs of such PRIIPs beforere should be an option that prescribed growth rates or charges may be used where they or a suitable benchmark are not available, with a warning at the top that it is using prescribed numbers. This will at least allow some comparability between products as all carriers will use they select one particular investment optioname investment returns and charges. More detailed rules to use of these tools should ensure better visibility of the totannual costs of these products while allowing a certain degree of flexibility when using simulation tools impact at the recommended holding period. This would be a valuable measure to capture in any dashboard.
Amendment 25 #
Proposal for a regulation
Recital 5
Recital 5
(5) Increased digitalisation provides opportunities to present key features of PRIIPs in a more attractive way. Regulation (EU) No 1286/2014 does not, however, provide sufficient flexibility for the use of digital means for displaying key information to investors such as presenting information from PRIIPs key information documents in a layered way and in a personalised manner that would reduce the visual overload of retail investors and facilitate their understanding of the PRIIP concerned. It is therefore necessary to introduce more flexibility in the use of the electronic format so that investors can fully benefit from the potential offered by the provision of a key information document in an electronic format, including by customising the amount they wish to invest or the holding period, according to their preferences. That personalisation does not imply an assessment by the PRIIPs provider of the individual characteristics of the potential retail investor. The three-page key information document should always be drawn up in accordance with Article 8 and available on the manufacturer's website. However, the key information it contains could be provided to retail investors in a flexible and personalised way, as long as retail investors are informed that they can download the complete key information document.
Amendment 26 #
Proposal for a regulation
Recital 7
Recital 7
(7) To ensure that retail investors make an informed investment decision at all times, the key information document should be kept up to date. Draft regulatory technical standards should specify theclear, concrete and restricted conditions under which the key information document should be revised, distinguishing between PRIIPs that are still made available to retail investors and PRIIPs that are no longer made available. Keeping the key information document updated should be without prejudice to the fact that manufacturers should comply with the pre- contractual information contained in the key information document provided to retail investors before their investment.
Amendment 41 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – introductory part
Article 6 – paragraph 3 – introductory part
3. By way of derogation from paragraph 2, where a PRIIPs offers the retail investor a range of options for investments, such that all information required in Article 8(3) with regard to each underlying investment option cannot be provided within a single, concise, stand- alone document, the key information documentform shall provide a generic description of the underlying investment options, and the costs of the PRIIP other than the costs for thestate where and how more detailed pre- contractual information documentation relating to the investment products backing the underlying investment option, provided that:s can be found.
Amendment 44 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point a
Article 6 – paragraph 3 – point a
Amendment 49 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point b
Article 6 – paragraph 3 – point b
Amendment 54 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 – point c
Article 6 – paragraph 3 – point c
Amendment 55 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Regulation (EU) No 1286/2014
Article 6 – paragraph 3 a (new)
Article 6 – paragraph 3 a (new)
3a. Prescribed growth rates or charges may be used where they or a suitable benchmark are not available, with a warning at the top that it is using prescribed numbers.
Amendment 63 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point aa
Article 8 – paragraph 3 – point aa
Amendment 64 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Regulation (EU) No 1286/2014
Article 8 – paragraph 3 – point aa – introductory part
Article 8 – paragraph 3 – point aa – introductory part
(aa) under a section titled ‘Product“Costs at a glance’” a dashboard with summarised information about all of the following:the annual cost impact at the recommended holding period (RHP) should be provided.
Amendment 100 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6 – point a
Article 1 – paragraph 1 – point 6 – point a
Regulation (EU) No 1286/2014
Article 10 – paragraph 2 – point b
Article 10 – paragraph 2 – point b
(b) the conditions under which the key information document must be revised, distinguishing between PRIIPs that are still made available to retail investors and PRIIPs that are no longer made available;