DISC 1.1 Purpose

1. (1)

   1The PRIIPs Regulation lays down uniform rules on the format and content of the key information document to be drawn up by PRIIP manufacturers and on the provision of the key information document to retail investors by PRIIP manufacturers and those selling or advising on PRIIPs.

2. (2)

   The key information document introduces a common standard for setting out information to help retail investors understand and compare the main features, risks, potential rewards, and costs of investing in a PRIIP, thus supporting informed investment decisions by consumers in the retail market.

3. (3)

   The detailed requirements concerning the content and presentation of the key information document are set out in the PRIIPs technical standards.

1Chapter 2 of this sourcebook sets out rules made by the FCA under article 4A of the PRIIPs Regulation (as amended by section 38 of the Financial Services Act 2021) which are intended to address areas of uncertainty concerning whether certain products, or categories of products, fall within the definition of a PRIIP for the purposes of the PRIIPs Regulation.