When it entered into force in 2018, the KID was intended as a long-term replacement for its UCITS predecessor. Originally, associated management firms were given an initial 2-year grandfathering period (until Jan 2020) to prepare for the crossover which was then followed by a one year extension (Dec 2021).
As things stand the grandfathering period is coming to an end on 31st Dec 2021. Since the ESAs have submitted the final draft RTS to the European Commission, asset managers have to expect that the UCITS grandfathering exemption under PRIIPs regulation will not be extended again. As a result, managers of UCITS funds will need to be ready to create PRIIPs KIDs instead of UCITS KIIDs by the end of the year. (NB: in order to avoid a co-existence of both investor disclosures the UCITS directive is required to be amended also)
This webinar will go way beyond the simple regulatory perspective. You will learn how to approach this transition project: what practical steps you’ll need to follow to be prepared on time, and how to use the transition as an opportunity to rethink how you manage investor disclosure & fund marketing documents as a whole.