EU regulators lean towards RIY cost disclosure for Priips

Reduction in yield “superior” to total cost ratio, says ESA joint committee chair

Steven Maijoor
Steven Maijoor, European Securities and Markets Authority

The European Supervisory Authorities (ESAs) so far prefer the reduction-in-yield (RIY) approach to disclosing structured products' costs, although they are yet to make a final decision, according to the chair of the standard-setters' joint committee.

The ESAs are pondering which of two methodologies – the RIY or the total cost ratio (TCR) – should be used in the instruments' key information documents (KIDs) under incoming regulation on packaged retail and insurance-based investment products

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