Information disclosure under PRIIPS – do KIDs know it all?

The Key Information Document (KID) is intended to provide a standardised summary of the right information for consumers to make sound decisions about packaged retail and insurance-based investment products. But is the KID really up to the task? ask Noline Matemera and David Wagget.

Noline Matemera (noline.matemera@TLTsolicitors.com) is a partner with TLT Solicitors in London who advises asset managers, banks, insurers and intermediary firms. She has previously spent several years working with the Financial Services Authority and more recently been seconded to a major global bank. David Wagget is a trainee solicitor in TLT’s regulatory practice.

What is a well-informed consumer? The answer depends on what transaction the consumer is contemplating, but many would agree that the well-informed consumer should possess sufficient knowledge and understanding to make a sensible decision that is in their best interests.