The European Parliament holds its final vote on the EU retail investment strategy on Thursday 12 November 2026, including the amendments to the PRIIPs Regulation and the PRIIPs KID. The vote settles the direction, but it isn’t adoption. The Council still has to adopt the texts formally, and the KID template won’t change until the European supervisory authorities finish their Level 2 work. Until then, the current EU PRIIPs KID and UCITS KIID rules remain the law.
What is the European Parliament voting on this week?
The EU’s retail investment strategy is one vote from the end of its parliamentary road. The European Parliament confirmed in its plenary briefing, published on the afternoon of 10 November, that MEPs will hold the final vote on Thursday 12 November.
Two texts are on the order paper:
- Retail investor protection: the first amends several directives on retail investor protection, procedure 2023/0167(COD).
- PRIIPs Regulation and the KID: the second, procedure 2023/0166(COD), amends the PRIIPs Regulation and its key information document.
The directive amendments were “informally agreed with the Council in December 2025”, the Parliament said. The rapporteur is Stéphanie Yon-Courtin, a Renew MEP from France.
What the retail investment package means for fund distributors
For fund distributors the headline is value for money. “Products that do not offer value for money will be barred from the market,” the briefing says, and retail customers “should also be able to compare products’ costs, charges, performance and non-financial benefits”.
The package also brings financial influencers under supervision, and those who promote products for investment firms “must have a written agreement”.
How will the PRIIPs KID change?
For document producers, the KID text matters more. It aims to ensure the KID “provides meaningful, forward-looking performance scenarios based on realistic data and plausible assumptions”. That reopens the performance scenario section of the document.
What happens after the vote?
This is EU Level 1 legislation, so Thursday’s vote is one step of several:
- European Parliament plenary vote on Thursday 12 November 2026.
- Formal adoption by the Council, which still has to adopt the texts.
- Publication in the Official Journal of the European Union.
- Level 2 work from the European supervisory authorities on the PRIIPs KID amendments, before the template itself changes.
Until then the package sits between “agreed” and “finalised”. In the EU, the current PRIIPs KID and the UCITS KIID rules remain the law. (Since 1 January 2023, retail UCITS have used the PRIIPs KID, so in practice the UCITS KIID now applies only to UCITS sold to professional investors.) In the UK, PRIIPs no longer applies, and existing KIDs and KIIDs continue only until the FCA’s Consumer Composite Investments (CCI) regime takes over on 8 June 2027.
Reporting teams that have been waiting for certainty before scoping KID changes will get the first piece of it on Thursday. The second piece, the technical standards, is where the real work starts.
What KID producers can do now
For now, nothing changes in the KID you produce today, because the current rules stay in place until the new ones apply. That gives teams a window to look at how their performance scenarios are produced today, where the underlying data comes from and how easily that process could change, before the new requirements arrive.
We’ll follow each step as the package moves through the Council and into Level 2. If you’d like to talk through what it could mean for your KIDs and wider regulatory reporting, get in touch with our team.
