On 1 January 2018, the PRIIPs Regulation became applicable.  It introduces the requirement for product manufacturers - before making a packaged retail and insurance-based investment product (PRIIPs) available to retail investors - to draw up a standardised Key Information Document (KID) and publish it on their website. Distributors (persons selling or advising) of PRIIPs have to hand over this KID to retail investors. The KID is intended to provide precontractual information on the nature, risks, costs, potential gains and losses of the product and it should facilitate comparison between different products and can be a maximum of 3 pages.

Over the past years, various issues with the current KID have been raised by stakeholders (both by industry - including BIPAR - and consumer representatives).