Recital 2

(2)Regulation (EU) No 1286/2014 of the European Parliament and of the Council ⁴ requires manufacturers of packaged retail and insurance-based investment products (PRIIPs), before making a PRIIP available to retail investors, to draw up and publish a key information document (‘KID’) for that product in order to enable such retail investors to understand and compare the key features and risks of the PRIIP.