The Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019

Form and content of key information document

7.—(1) In Article 7—

(a) in paragraph 1, in the first subparagraph, for the words from “shall be written” to the end substitute “must be written in English, or where it has been written in a different language, it must be translated into English”;

(b) omit paragraph 2.

(2) In Article 8—

(a) in paragraph 3(a), omit “information about the competent authority of the PRIIP manufacturer”;

(b) in paragraph 3(d)(v), for “retail investor’s home Member State” substitute “United Kingdom”;

(c) in paragraph 4, for the words from “Commission” to “specifying” substitute “Treasury may by Regulations specify”;

(d) in paragraph 5—

(i) in the first subparagraph, for the words from “ESAs” to “standards” substitute “FCA may make technical standards in accordance with Chapter 2A of Part 9A of FSMA(1) (“technical standards”)”;

(ii) in the second subparagraph, for the words from “developing” to “shall” substitute “making technical standards, the FCA must”;

(iii) omit the third and fourth subparagraphs.

(3) In Article 10, in paragraph 2—

(a) in the first subparagraph, for the words from “ESAs” to “standards” substitute “FCA may make technical standards in accordance with Chapter 2A of Part 9A of FSMA”;

(b) omit the second and third subparagraphs.

(4) In Article 11, in paragraphs 2 and 4, for “national law” substitute “the law of the United Kingdom or any part of the United Kingdom”.

(1)

Chapter 2A of Part 9A was inserted by S.I. 2018/1115.