Insurance: Efficiently Manage Regulatory Documents
Centralised provision of documents for unit-linked products
Challenges
Providing up-to-date documents for unit-linked insurance products
Ensuring compliance with legal requirements (IDD & PRIIP)
Integration into existing IT systems and processes
Solutions with EDH
Central access to relevant, up-to-date documents
Automated updates and audit-proof archiving
Easy integration via API or user-friendly frontend
Trading Platforms: Seamless Integration of Regulatory Documents
Automated document provision for a wide range of products
Challenges
Providing up-to-date documents for a variety of financial instruments
Ensuring compliance in a dynamic market environment
Integration into existing platforms and systems
Solutions with EDH
Centralised document source with high coverage (>98% of products traded in DE/AT)
Automated updates and audit-proof archiving
Easy integration via API or user-friendly frontend
Investors: Simplifying Access to Regulatory Documents
Transparent provision of product information
Challenges
Need for clear and up-to-date product information
Meeting information obligations towards investors
Access to documents across different channels
Solutions with EDH
Provision of standardised documents such as PRIIP KIDs and ESG reports
Automated delivery and updating of relevant documents
Easy integration via API or user-friendly frontend
Exchanges & Trading Venues: Document Provision for Listed Products
Automated publication of regulatory documents for publicly traded securities
Challenges
Obligation to publish statutory product documents
Broad product range & dynamic market
Long-term availability for market participants & regulators
Solutions with EDH
Direct access to current PRIIP KIDs, base prospectuses and sales prospectuses
High availability (>98% of all financial instruments approved for trading in DE/AU)
10-year audit-proof archiving with logging function
Fintechs: Scalable Document Supply for Digital Financial Services
Structured access to regulatory documents – regardless of product scope
Challenges
Availability of regulatory documents for large product portfolios
Integration into dynamic, API-driven systems
Meeting legal requirements despite rapid growth
Solutions with EDH
Central source with >98% market coverage of financial instruments approved for trading in DE/AT
Easy integration via API or user-friendly frontend
Audit-proof document provision and archiving
Time savings through automation
Reduce manual effort – all documents are automatically available to you.
Easy integration
Resource-efficient connection via API or user-friendly frontend.
Regulatory compliance
Continuously maintained documents provide a solid basis for meeting regulatory requirements.
Increased efficiency through optimised processes
Digital provision supports lean workflows and accelerates internal processes.
PRIIP-KIDs
PRIIP-KID (Key Information Documents) are the key information sheets for Packaged Retail Investment and Insurance-based Products, including investment funds, derivatives, and unit-linked life insurance policies. They provide retail investors with a maximum three-page, comparable overview containing key information on the objectives, risks, and costs of the financial product.
Legal basis
PRIIP-KIDs are based on the PRIIPs Regulation, which obliges providers
to supply clear and up-to-date key information documents for PRIIPs. An annual
update is required.
Target group & use cases
PRIIP KIDs are mandatory for all PRIIP providers and must be made available
to retail customers before concluding a contract. This particularly affects
financial market participants who distribute various financial products to retail clients.
Retail customers use PRIIP-KIDs to obtain essential information about the financial product. Data on the cost structure or the risk assessment can be directly compared with other products thanks to the standardised format of PRIIP-KIDs.
Base Prospectus
A base prospectus is a detailed product description for financial products that are to be admitted to a regulated market. It contains comprehensive information on risks, issuers, and product features. In contrast to the PRIIP KID, the base prospectus is significantly more extensive and is aimed at both institutional and retail investors. While the base prospectus serves as a framework prospectus, the Final Terms contain the specific details of each individual issuance.
Legal basis
The base prospectus is subject to the EU Prospectus Regulation (2017) and must be approved by the competent financial supervisory authority before publication. It is valid for 12 months after approval.
Target group & use cases
Intermediaries must inform clients about the characteristics and risks of financial products. They are therefore the main target group.
Investors use the base prospectus to obtain general information about a financial product.
Final Terms
The Final Terms document supplements the base prospectus and contains all specific details of a single issuance, including the type of security, ISIN, maturity, trading venue, etc.
Legal basis
According to the Prospectus Regulation, the final terms of each issuance must be filed with the financial supervisory authority (e.g. BaFin). Unlike the base prospectus, no separate approval from the financial authority is required.
Target group & use cases
Investors use the final terms to obtain the exact product conditions that are not included in the base prospectus.
Semi-Annual Report
A semi-annual report is a financial report published by investment management companies for financial products (e.g., investment funds). It is issued 6 months after the annual report. The semi-annual report provides investors with information on the fund’s asset composition, income and expense situation, and performance. It also covers business developments.
Legal basis
The semi-annual report is mandatory for retail investment funds according to Section 103 of the German Capital Investment Code (KAGB) and must be published by the respective management companies. Publication must take place within 2 months after the reporting date.
Target group & use cases
Intermediaries are required to provide semi-annual reports to their clients.
The semi-annual report gives investors the opportunity to receive detailed information about the fund’s situation between the annual reports.
Annual Report
The annual report is a comprehensive financial report that must be published once a year by investment management companies for investment funds. It includes, among other things, the composition of the fund, an income and expense statement, and the development of the fund's assets. The annual report also specifies the amount of distributions made to investors. Compared to the semi-annual report, it contains more extensive content.
Legal basis
The annual report is mandatory for investment funds according to Section 107 of the German Capital Investment Code (KAGB) and must be published by investment companies no later than 4 months after the end of the financial year. For alternative investment funds, this period is 6 months.
Further information on the legal framework: https://www.gesetze-im-internet.de/kagb/__107.html
Target group & use cases
The annual report provides investors with comprehensive information about the financial product, which they can use to assess the fund's financial position, strategy, and distribution policy.
Annual Accountability Report
The annual accountability report aims to transparently present the activities of an investment management company during the past financial year and to provide all relevant information that enables investors to clearly assess the performance of the special fund. Key components of the report include a detailed overview of the assets, the number and value of units in circulation on the reporting date, a structured comparison of income and expenses, as well as a comparison of key figures over the last three financial years. The accountability report is made available to investors together with the sales prospectus in an appropriate format.
Legal basis
The accountability report is prepared by an investment company (KAG) or management company (KVG) for an investment fund it manages. For each special fund, this report must be prepared at the end of each financial year. It must be published within three months after the end of the financial year; for funds domiciled in Luxembourg, the deadline is up to four months.
Target group & use cases
Disclosure Regulation – Pre-contractual Information
The pre-contractual information covers details about the sustainability of a financial product. It includes topics such as sustainability risks, ESG strategy, and principal adverse impacts. Providers of sustainable financial products are obliged to transparently inform investors about the sustainability aspects and make this information available to them before the contract is concluded.
Legal basis
The EU Sustainable Finance Disclosure Regulation (SFDR) obliges financial market participants and financial advisers to provide pre-contractual information on the sustainability aspects of financial products.
Further information: BaFin
Target group & use cases
Retail investors use the pre-contractual information to obtain general data about the sustainability of a financial product.
Disclosure Regulation – Pre-contractual Information
The pre-contractual information covers details about the sustainability of a financial product. It includes topics such as sustainability risks, ESG strategy, and principal adverse impacts. Providers of sustainable financial products are obliged to transparently inform investors about the sustainability aspects and make this information available to them before the contract is concluded.
Legal basis
The EU Sustainable Finance Disclosure Regulation (SFDR) obliges financial market participants and financial advisers to provide pre-contractual information on the sustainability aspects of financial products.
Further information: BaFin
Target group & use cases
Retail investors use the pre-contractual information to obtain general data about the sustainability of a financial product.
Sustainable Finance Disclosure Regulation – Article 10 Disclosure
Article 10 disclosures provide detailed information on the sustainability strategy of a financial product, including the investment strategy and how the ESG objectives are to be achieved. Disclosures are mandatory for products under Article 8 or 9 SFDR.
Legal Basis
Financial market participants must publish Article 10 disclosures for each financial product
falling under the EU Sustainable Finance Disclosure Regulation (SFDR). These only need to be published
once and should be updated in case of significant changes.
Further information on the legal framework: BaFin
Target Group & Use Cases
Retail investors use Article 10 disclosures to obtain precise information on the sustainability of a financial product.
Connection & Access
- API integration or web interface – with minimal IT effort
- Integrate directly into existing systems
Retrieve Documents
- Search by ISIN or fund name
- Bulk download for multiple documents
Automatic Updates
- No manual updates required
- Changes & new documents available in real time
Secure Archiving
- Audit-proof storage of all retrievals
- Export function
What is the PRIIP Regulation and since when has it been in force?
The PRIIP Regulation (“Packaged Retail and Insurance-based Investment Products”) is an EU regulation aimed at protecting retail investors. It requires providers of packaged and insurance-based investment products to supply pre-contractual information in the form of a standardized Key Information Document (KID). This document is designed to help retail investors transparently and comparably assess products in terms of risks, opportunities, and costs.
The regulation came into effect on December 31, 2017. Since January 1, 2018, financial institutions must produce and provide a compliant KID for relevant products.
What are KIDs and who receives them?
The Key Information Document (KID) is a standardized document of no more than three pages that gives retail investors a quick and clear overview of an investment product. It contains information on objectives, features, costs, risk classes, performance scenarios, and possible losses. The layout and content of the KID are strictly regulated by the PRIIP Regulation.
A KID must be provided before selling a product to retail investors in the European Economic Area (EEA). This obligation applies to all providers and distributors of PRIIPs, including banks, insurers, and asset managers – even outside the EU.
For which products is a KID required?
The KID requirement applies to packaged investment products (PRIIPs), in particular:
- Investment funds not covered by the UCITS transitional arrangement
- Structured financial products, e.g., certificates or structured bonds
- Insurance-based investment products, such as unit-linked life insurance
- Derivatives marketed to retail investors
- Packaged savings products with variable redemption amounts
How can ESG documents be used in the sales process?
Our solution supports you in meeting regulatory obligations by providing access to SFDR Annex templates, which are required both pre-contractually and for annual client reporting. Banks, online brokers, and financial information platforms can make ESG documents directly available to their clients, offering additional value. Our solution helps you comply with regulatory requirements and strengthen your ESG profile.
Kontakt
Sie möchten mehr über unseren European Documents Hub (EDH) erfahren oder einen Testzugang beantragen?
Dann schreiben Sie uns – wir beantworten Ihre Anfrage schnellstmöglich und persönlich.
Telefonisch sind wir werktags (Mo–Fr) von 9:00 bis 17:00 Uhr für Sie erreichbar.
Tel.: +49 (0) 69 2732 – 100
E-Mail: sales(at)wmdaten.com