10/05/2022 (Agence Europe) – On Tuesday, 10 May, the European Supervisory Authorities (ESAs)—EBA, EIOPA, and ESMA—published a joint statement regarding key information documents for packaged retail and insurance-based investment products (PRIIPs). These documents are supposed to contain information on the type of product, its objectives, the type of retail investor targeted, and the term of the product, if known. The ESAs highlight a range of poor practices in how PRIIP manufacturers describe products, including a general lack of clarity in the text—a situation that makes it difficult for retail investors to understand the key features of products. To read the statement: https://aeur.eu/f/1kr (AD)