Regulation 3 Amendment of Commission Delegated Regulation (EU) 2017/565

Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive^f1 is amended as follows.

In Article 2 (definitions), after point (16C) insert—

“(16D)

“closed-ended investment company that is UK-listed” is to be interpreted in accordance with Article 2(3) of Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products;”.

In Article 50 (information on costs and associated charges), in paragraph 2(b), after “instruments” insert “, except any costs of manufacturing and managing shares in a closed-ended investment company that is UK-listed”.

In Article 51 (information provided in relation to units in collective investment undertaking or PRIIPs)—