efama

The European Fund and Asset Management Association (EFAMA) has written to the European Commission on the subject of the PRIIPS draft Regulatory Technical Standards (RTS), calling for an immediate extension of the UCITS exemption, as well as an urgent Level 1 review of the regulation.

Tanguy van de Werve, EFAMA Director General, said: "Following a recent communication from the ESAs' to the European Commission on the fact that they were unable to agree on a revised PRIIPs draft RTS, the entire PRIIPs regime is in limbo."

The European Commission’s work on integrating sustainability considerations is an “essential milestone” that will further encourage the availability of environmental, social and governance (ESG) products to European investors, according to the European Fund and Asset Management Association (EFAMA).

The comments were made in response to the EC’s consultations on delegated acts that seek to integrate sustainability risks and sustainability factors into UCITS, Alternative Investment Fund Managers Directive (AIFMD) and the Markets in Financial Instruments Directive (MiFID).