Consultation on legislative steps for the Packaged Retail Investment Products initiative

The consultation seeks feedback from stakeholders on the next steps to be taken in improving the European regulation of the retail investment market. The Commission committed in 2009 to developing legislative proposals for raising standards of investor protection and improving the consistency of existing measures across the different sectors making up the retail investment market. This consultation represents a next step in this work, and responses to it will aid the Commission in fine-tuning legislative proposals.

The participation period to this consultation is now over.

Received contributions will be published on the Internet. It is important to read the specific privacy statement attached to this consultation for information on how your personal data and contribution will be dealt with.

• Press release
• Consultation document(114 KB)  

The Commission maintains a website with further information and background on this initiative

• The Commission plans to separately consult on possible changes to the Markets in Financial Instruments Directive (MiFID) and the Insurance Mediation Directive; both of these consultations will cover steps in improving investor protection measures that are being taken as part of the PRIPs initiative and should be read alongside the current consultation.
• A study that has been conducted by the Commission on some of the costs (and benefits) of change for the industry(2 MB)   has been published alongside this consultation.
• A study has also been completed by the Commission on how retail investors make investment decisions and possible ways of aiding investors in their decision making.
• The Commission also is completing a further study, to assess current investment advice practices across Europe, and plans to publish this on http://ec.europa.eu/consumers/rights/fin_serv_en.htm#fin once it is available.