- 2 August 2022
- Generaldirektoratet for Finansiel Stabilitet, Finansielle Tjenesteydelser og Kapitalmarkedsunionen
Today the Commission published in the Official Journal of the EU the Commission Delegated Regulation (EU) 2022/975 adopted by the Commission on 17 March 2022 and endorsed by the co-legislators following a scrutiny procedure that ended on 17 June 2022.
The delegated regulation postpones the application date of certain PRIIPs-related disclosures to 1 January 2023 (instead of 1 July 2022 as initially foreseen in the amending act adopted on 6 September 2021 (Commission Delegated Regulation (EU) 2021/2268)).
The delegated regulation also prolongs the application of Article 14(2) of Commission Delegated Regulation (EU) 2017/653 until 31 December 2022 (instead of 30 June 2022 as initially foreseen in the amending act adopted on 6 September 2021 (Commission Delegated Regulation (EU) 2021/2268)), concerning the ability to use UCITS Key Investor Information to provide specific information for the purposes of disclosures relating to PRIIPs offering a range of options for investment.
While the entry into force of the delegated act will take place 20 days after its publication in the Official Journal, that is to say on 14 July 2022, the intention of the co-legislators is clearly to
- postpone the start of application of the new rules included in Delegated Regulation 2021/2268 to 1 January 2023
- prolong the application of Article 14(2) of Delegated Regulation (EU) 2017/653 until 31 December 2022
National competent authorities should take into account these elements of timing when discharging their supervisory tasks.