European industry gears up for raft of new rules

Even before the financial crisis in 2008 revealed the unsuitability of some investment products for inexperienced investors, regulators in Europe were preparing to unleash a number of consumer protection measures on the fund management industry.

The crisis only speeded up the process and the finishing touches are now being put to the packaged retail investment products initiative (Prips) and the retail distribution review (RDR), while the key investor information document (KIID) has been around since July 2011.

ESO: Background information: Brussels poised to consult on Prips http://www.europeansources.info/record/brussels-poised-to-consult-on-prips/

European Commission: DG Internal Market and Services: Retail financial services: Packaged Retail Investment Products http://ec.europa.eu/internal_market/finservices-retail/investment_products_en.htm

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