Entry into force

29 December 2014 with effect from 1 December 2018 (The PRIIPs Regulation applies directly in every EU Member State.)

Scope of application

The rules apply to packaged retail investment products (PRIPs) and insurance-based investment products, referred to collectively as packaged retail and insurance-based investment products (PRIIPs). These are standardized investment products that financial institutions offer to clients who wish to save for a specific purpose (e.g. buying a house). They include investment funds, insurance-based products, structured products, and structured deposits.


The PRIIPs Regulation requires manufacturers (e.g. fund manager, insurance company, credit institution or investment firm) and sellers of PRIIPs to provide investors with a key information document (KID) for every PRIIP. The KID is intended to allow retail investors to understand and compare the main features and risks of these products. The manufacturer of a PRIIP is responsible for drawing up its KID (Art. 5 para. 1 PRIIPs Regulation), and the form of the KID is prescribed (Art. 6 et seqq. PRIIPs Regulation). The KID may not be more than three pages long.

Article 8 of the PRIIPs Regulation stipulates that the KID must contain the following:

  • The name of the PRIIP and the identity of the manufacturer;
  • The main features of the PRIIP (type, objectives, means for achieving objectives, type of retail investor targeted, term, etc.);
  • Risks and performance (summary risk indicator, possible maximum loss, performance scenarios);
  • Costs (direct and indirect, one-off and recurring);
  • Information about how to make a complaint about the product or the conduct of the manufacturer;
  • Minimum holding period;
  • Comprehension alert in the case of investment products that are difficult to understand.

Delegated act relating to the PRIIPS Regulation

Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents

PRIIPs Regulation Frequently Asked Questions - Version as of May 2020
PRIIPS Regulation Frequently Asked Questions - Version as of December 2020
PRIIPs Regulation Frequently Asked Questions - Version as of August 2019