Recital 1

(1)Experience gained during the first years of application of Commission Delegated Regulation (EU) 2017/653 ² has shown that certain elements of presentation and content of key information documents need to be revised. Such revision is necessary to ensure that retail investors continue to be provided with appropriate information across the range of different types of packaged retail and insurance-based investment products (‘PRIIPs’), irrespective of the particular market circumstances, in particular when there has been a sustained period of positive market performance.