Communication regarding PRIIPS Assessment

Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (“PRIIPs”) (hereinafter “Regulation 1286/2014”) has been in application since 1 January 2018.

Regulation 1286/2014 lays down uniform rules on the format and content of the key information document (“KID”) to be drawn up by PRIIP manufacturers and on the provision of the KID to retail investors by PRIIP manufacturers and those selling, or advising on, those products.

The CSSF would like to know the impact of Regulation 1286/2014 on credit institutions and investment firms incorporated under Luxembourg law and on Luxembourg branches of credit institutions and investment firms having their registered office in an EU country or a third country, as some financial products manufactured, sold or advised by these entities are likely to qualify as PRIIPs.

The CSSF therefore requires all the above-mentioned entities to complete an online assessment available on the eDesk Portal as specified in Circular CSSF 19/725 – Dematerialisation of requests to the CSSF.

All information related to user account creation and authentication are detailed on the eDesk Portal available at https://edesk.apps.cssf.lu/edesk-dashboard/dashboard/getstarted?lng=en.

The online assessment must be completed by 30 November 2019 at the latest and must cover PRIIPs that were manufactured, sold or advised between 1 January 2018 (date of application of Regulation 1286/2014) and 30 June 2019.