The European Supervisory Authorities (ESAs) have written to the European Commission concerning the exclusion of a few options proposed by the ESAs on 23 May 2019 for presenting information on performance scenarios to be tested during a consumer testing exercise conducted by the European Commission under the Level 2 Review of the PRIIPs KID Regulation.
On 19 July 2019 the European Commission informed the ESAs that three of the proposed options will be excluded.
The ESAs consider that consumer testing can bring the best insights if a wide range of different approaches and options are first put on the table. First the consumers’ views should be obtained, and an exclusion of different options on the basis of their conformity with the existing regulation could excessively limit the value of the feedback from the testing.
Source: The European Insurance and Occupational Pensions Authority (EIOPA)