Wealth management trade association PIMFA is calling on the Financial Conduct Authority (FCA) and the Treasury to conduct a fundamental review of the Packaged Retail and Insurance-based Investment Products (PRIIPs) regime.

Following the FCA’s ‘PRIIPs - Proposed scope rules and amendments to Regulatory Technical Standards consultation’, PIMFA wants the regulator to take a more radical approach regarding the PRIIPS regime.

Concerns raised by PIMFA’s members include the fact that the all-encompassing nature of the PRIIPs Key Information Documents (KID) fails to reflect the way that most consumers approach investmen...