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March 13 2018
On February 20 2018 the Financial Market Authority (FMA) published a new circular concerning key information documents for packaged retail and insurance-based investment products. The circular is available only in German on the FMA homepage.
The FMA had already published a revised version of its circular on sound remuneration policies and practices (in German) on January 19 2018.
The circular is addressed to insurance undertakings and entities that produce, sell or advise on insurance-based investment products.
This update summarises the most important interpretations by the FMA of the Packaged Retail Investment and Insurance Products (PRIIPs) Regulation (1286/2014):
Following the publication of the Guidelines on Remuneration Policies (EBA/GL/2015/22) by the European Banking Authority (EBA) in June 2016, the FMA has now updated its own circular on sound remuneration policies and practices.
The most important findings can be summarised as follows:
For further information on this topic please contact Stefan Paulmayer at Schoenherr by telephone (+43 1 5343 70) or email (firstname.lastname@example.org). The Schoenherr website can be accessed at www.schoenherr.eu.
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