ESA Joint Committee · priips-67 Final

Does “as appropriate” in Point 7 of Annex III mean that the wording of the elements A-J can be amended? Or should the manufacturer remove an entire text element if it is not suitable for a specific PR

Regulation
PRIIPs
Answered
2017-08-18
Answer provided by
ESAs (EBA, ESMA, EIOPA)
⚠

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Question

Does “as appropriate” in Point 7 of Annex III mean that the wording of the elements A-J can be amended? Or should the manufacturer remove an entire text element if it is not suitable for a specific PRIIP?

Answer

The term "as appropriate" refers to whether or not the issue is relevant to the PRIIP, for example in relation to element D this text is not appropriate where there are no circumstances in which the retail investors will be required to make further payments to pay for losses. Where the retail investor may be required to make further payments to pay for losses the exact wording of the narrative explanations shall be used, unless the template explicitly allows the manufacturer discretion to draft the appropriate text, such as for Element E.

This Q&A is published by ESA Joint Committee (EBA, ESMA, EIOPA) and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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