The European Parliament's Economic and Monetary Affairs Committee wants more uniform protection for retail investors with shares in harmonised mutual funds in the European Union, such as UCITS or alternative investment funds (see EUROPE 11979).
Adopted on Monday 3 December, Wolf Klinz's (ALDE, Germany) draft report recommends, in particular, that the advertising communication material of these funds should provide more detail on the risks that an investor may incur, his rights and inform him about the possibilities of collective redress.
However, MEPs believe that UCITS funds should be exempt from the obligation to send a key information document (KID) to a potential investor.
A reflection is precisely under way at the European level on how to reconcile the information requirements for packaged retail investment and insurance products ('PRIIPs') and harmonised investment funds (see EUROPE 12134). (Original version in French by Mathieu Bion)