PRESS RELEASE

Amendments to Delegated Regulation (EU) 2017/653 will entry into force on the 1^st of January 2023, thus affecting the structured data relating to PRIIPs which, pursuant Consob resolutions n.21639 and n.21640 of 15^th December 2020, manufacturers of PRIIPs marketed in Italy shall make accessible to Consob by either SFTP or by web interface.

Since the revision of the abovementioned delegated acts impacts mainly on calculation methodologies and just slightly on the information to be represented into the KID, the amendments to the structured data set are limited.

The update of the structured data set will be applicable from the 1^st of January 2023, coherently with the delegated acts revision starting date. The system go-live will be anticipated by a testing phase.  

On Consob's website /web/services-for-supervised-subjects/procedure-of-communication-of-priips-kid will be published, within the 31^st of October 2022, the revised Operating Instructions, the "Technical specifications for xsd schemes" and an updated version of the "Web Interface Manual"[1].

Moreover, starting from the 1^st of January 2023, coherently with Regulation (EU) 2021/2259 of the 15^th of December 2021 and the Directive (EU) 2021/2261 of the 15^th December 2021, the KID PRIIP rules will be extended to the offering of UCITS and open AIF to retail investors.

With regard to CIS marketed to retail investors, KIDs shall be made available only through the DEPROF System pursuant to art. 34-bis.2 of the Issuers' Regulation, whose guidebook will be updated within the 31^st of October 2022 on /web/services-for-supervised-subjects/filing-of-cis-offering-documents.

Finally, about CIS:

• PRIIP KID jointly with related structured data could be made available to Consob starting from the 15^th of December 2022;
• From the 15^th to the 31^st of December 2022, if a UCITS KIID update happens, it shall be sent via e-mail at saivif@consob.it.

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