Goodbye Mr PRIIPs
AIC applauds abolition of PRIIPs and a new disclosure regime
Today the Association of Investment Companies (AIC) warmly welcomed the publication of HM Treasury’s consultation, ‘PRIIPs and UK retail disclosure’.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “The investment company industry has just breathed a collective sigh of relief on seeing the proposed abolition of the PRIIPs Regulation. We have lobbied long and hard for the abolition of Key Information Documents (KIDs) which dangerously mislead investment company investors.
“We applaud the abolition of PRIIPs and will be arguing for a disclosure regime which helps investors make better investment decisions and puts investment companies and open-ended funds on a level playing field. The FCA should act swiftly to sweep away the confusing mishmash of disclosures and put in place a fair and transparent framework.”
Past lobbying activity
Read the press release, ‘AIC responds to FCA consultation on Key Information Documents’ (KIDs).
Read commentary by former Chief Executive of the AIC, Ian Sayers, on the flaws of KIDs published in October 2018.
View the AIC’s paper, ‘Burn before reading’ which highlights the many dangers and shortcomings of KIDs which was published in September 2018.
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Notes to editors
- The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment. Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s vision is for closed-ended investment companies to be considered by every investor. The AIC has 353 members and the industry has total assets of approximately £263 billion.
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