Does point 5(b) of Article 2 of the RTS – ‘an indication of whether the PRIIP manufacturer is entitled
to terminate the PRIIP unilaterally’ concern i) market circumstances or ii) client specific circu

Question

Does point 5(b) of Article 2 of the RTS – ‘an indication of whether the PRIIP manufacturer is entitled
to terminate the PRIIP unilaterally’ concern i) market circumstances or ii) client specific circumstances
(in which case the product would end for this client alone) or both?

ESA Joint Committee (EBA, ESMA, EIOPA) · Accepted Answer

This provision relates to any circumstances which allow the PRIIP manufacturer to cancel or redeem the
product without the consent of the retail investor. This covers both market circumstances whereby the
product as a whole might be redeemed, as well as circumstances specific to the retail investor whereby
only that investor’s product may be terminated, for example due to the failure of the retail investor to
comply with certain conditions, such as making regular payments.

Does point 5(b) of Article 2 of the RTS – ‘an indication of whether the PRIIP manufacturer is entitled to terminate the PRIIP unilaterally’ concern i) market circumstances or ii) client specific circu

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