The European Commission has published a delegated regulation that postpones the application date of certain PRIIPs-related disclosures

The CSSF would like to draw attention to the publication of the European Commission on 24 June 2022 in the Official Journal of the EU of the Delegated Regulation (EU) 2022/975 of 17 March 2022 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2017/653 as regards the extension of the transitional arrangement laid down in Article 14(2) of that Regulation and amending the regulatory technical standards laid down in Delegated Regulation (EU) 2021/2268 as regards the date of application of that Regulation (Delegated Regulation 2022/975).

The Delegated Regulation 2022/975 concerns the amendment of the application date of rules for the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs).

More specifically, the Delegated Regulation 2022/975 states that:

• Article 14 (2) of Delegated Regulation (EU) 2017/653 continues to apply until 31 December 2022, and that
• the new rules included in Delegated Regulation (EU) 2021/2268 amending Delegated Regulation (EU) 2017/653 shall apply as from 1 January 2023.

The Delegated Regulation 2022/975 and the amendments concerned should be read in light of the following statement of the European Commission.

The CSSF will take into account the elements of timing as put forward in such statement when discharging its supervisory tasks in the framework of PRIIPs.