On February 28, the Packaged Retail and Insurance-based Investment Products (PRIIPs) (Amendment) (EU Exit) Regulations 2019 (UK Regulations) were published together with a draft explanatory memorandum.

The UK Regulations were laid before Parliament on January 9, as reported in the January 11 edition of Corporate & Financial Weekly Digest. There do not appear to be any substantive changes.
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On February 8, the Joint Committee of European Supervisory Authorities (ESAs) published a final report on proposed amendments to Commission Delegated Regulation (EU) 2017/653 (Delegated Regulation) on key information documents (KIDs) for packaged retail and insurance-based investment produces (PRIIPs).
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On January 9, a draft of the Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019 (Draft Regulations 2019) was published together with a draft explanatory memorandum.

The purpose of the Draft Regulations 2019 is to ensure that the regime established under EU Regulation on Key Information Documents for PRIIPs (PRIIPs Regulation) continues to operate effectively after the United Kingdom’s withdrawal from the European Union (Brexit).
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On July 20, the Joint Committee of the European Supervisory Authorities (ESAs), which comprises the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority, updated its Q&As on the key information document (KID) required to be issued in connection with packaged retail and insurance-based investment products (PRIIPs)

On May 21, the UK Financial Conduct Authority (FCA) published a webpage on its findings from its review of firms offering automated investment services. The aim of the review was to monitor developments in financial innovation to help inform the FCA’s regulatory strategy, as set out in its 2017/18 Business Plan.

The FCA reviewed the activities of seven firms offering automated online discretionary management (ODIM), where a firm has the responsibility of investing on behalf of a client, within agreed parameters, on an ongoing basis. The FCA also reviewed three firms providing retail investment advice exclusively through automated channels (auto-advice), where customers do not interact with human financial advisers.
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