Influence of Regulation of the European Parliament and of the Council on Key Information Documents for PRIIPs on Information Practices in Insurance-based Investment Products Market

The aim of this article is to describe requirements imposed by Regulation (EU) No1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) and commission delegated regulation (E...

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Bibliographic Details
Published inPrzedsiębiorczość i Zarządzanie Vol. 20; no. 3.1; pp. 67 - 77
Main Author Jeziorska, Małgorzata
Format Journal Article
LanguageEnglish
Published University of Social Sciences 2019
Społeczna Akademia Nauk
Subjects
Business Economy / Management
Business Ethics
Economy
Financial Markets
misselling
PRIIP
insurancebased invested products
KID
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Summary:The aim of this article is to describe requirements imposed by Regulation (EU) No1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) and commission delegated regulation (EU) 2017/653 of 8 March 2017 supplementing aforementioned document by laying down regulatory technical standards with regardto the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents. KID for PRIIPs shouldbe presented to the retail investors in standardised way. A common template should beestablished for each insurance-based investment product. This mechanism should reduce consumer misinformation on economic and legal features, risks associated with the product, costs, fees and penalties. The research methods used in this article include analysis ofofficial documents and secondary data
ISSN:1733-2486
2543-8190