On Friday 5 June, the Member States’ ambassadors to the European Union (Coreper) approved the final compromises between the European Parliament and the Council of the EU on the Retail Investor Protection Directive (RID) and the Regulation amending the Packaged Retail and Insurance-based Investment Products (PRIIPs) framework.
Despite the interinstitutional political agreement (trilogue) reached last December (see EUROPE 13776/15), the texts of the legislative package have still been the subject of targeted disagreements over their final drafting in recent months (see EUROPE 13867/17).
The two texts approved by Coreper on Friday concern, on the one hand, the reform of the rules applicable to the advice and distribution of financial products to retail investors and, on the other, the revision of the key information document (KID) given to retail investors before they subscribe to a packaged or insurance-based investment product.
This technical validation paves the way for the final adoption of these two texts. (Original version in French by Bernard Denuit)