Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 14 Specific information on each underlying investment option

  1. (1)

    In relation to the specific information referred to in Articles 11, 12 and 13, PRIIP manufacturers shall include for each underlying investment option — all of the following:

    1. (a)

      a comprehension alert, where relevant;

    2. (b)

      the investment objectives, the means for achieving them, and the intended target market in accordance with paragraphs 2 and 3 of Article 2;

    3. (c)

      a summary risk indicator and narrative, and performance scenarios in accordance with Article 3;

    4. (d)

      a presentation of the costs in accordance with Article 5.

  2. (2)

    By way of derogation from paragraph 1, PRIIP manufacturers may use the key investor information document drawn up in accordance with:

    1. (a)

      for EEA UCITS, Articles 78 to 81 of Directive 2009/65/EC, as amended from time to time; or

    2. (b)

      the rules made under FSMA which implemented those Articles,

    3. to provide specific information for the purposes of Articles 11 to 13 of this Delegated Regulation where at least one of the underlying investment option referred to in paragraph 1 is a UCITS or non-UCITS fund referred to in Article 32 of Regulation (EU) No 1286/2014.