Download Banks to enable clients to better compare retail investment products

EBF_007605
Brussels, 2 April 2014
Statement
Banks to enable clients to better compare retail investment products
The European Banking Federation has taken a great interest in the proposed European Union
regulation on key information documents on investment products offered to retail investors. The EBF
congratulates the Greek EU Presidency on the work done to reach a trilogue agreement on this
proposal under their mandate and before the upcoming European elections.
European banks support the introduction of a standardised template for relevant information on a
wide range of financial products that are known as known as packaged retail and insurance-based
investment products, or PRIIPs.
The EBF notes that the agreement that has been reached in the trilogue recognizes the Key Information
Document (KID) as a summary document that cannot contain all information relevant to an
investment, and that a section on ‘other relevant information’ will be included in these KIDs.
The trilogue agreement will enable European Securities and Market Authority (ESMA) to start drafting
level 2 technical standards on this important piece of legislation. The European banking industry calls
for sufficient time for the implementation of this new information document.
EBF a.i.s.b.l.
Avenue des Arts 56, B-1000 Brussels
+32 (0)2 508 37 11 Phone
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www.ebf-fbe.eu