https://www.boards.ie/vbulletin/showthread.php?t=2057822332Hi,
This week I had the following message from my uk broker
"New regulation being introduced on 1 January 2018 will affect dealing in some of your holdings.The new regulation requires that issuers of certain types of investments (known as ‘Packaged Retail Investment and Insurance Products’or ‘PRIIPs’) must publish a Key Information Document (or KID) if they are available to private investors.Without a KID, private investors will not be able to make any further purchases in that stock, although they can continue to hold the PRIIPs they already own. They can also sell at any stage."
This means all the dollar-denominated Vanguard non-UCITS ETFs will unavailable for purchase in Europe from 1st January 2018 because Vanguard are not providing KIDs for them.
I think nearly all the iShares non-UCITS ETFs likewise will be gone.
DeGiro told me they didn't know what ETFs they would be allowed to market and told me to check the website in January 2018
I haven't seen any specific announcements about this and I wondered what Boards.ie users knew about it, and in particular if they knew of any US ETF issuers who were going to provide KIDs ?
If this is official, and across European brokers, then the game is up.
Revenue will be laughing their head off.
Interesting. I guess they didn't have much of a choice the way the Regulation is drafted.It looks like they're gone from DeGiro too...
Interesting. I guess they didn't have much of a choice the way the Regulation is drafted.
I'm not currently seeking to purchase any US-domiciled ETFs.Do you have access to the US markets? Can you get a quote using the ETF ticker?
Vanguard have confirmed to me they will not be producing KIIDs for US-listed ETFs, which means that we will effectively be left with no option but to invest in UCITS ETFs, and suffer Revenue's lunatic rules on deemed disposal, if we want access to liquid, diversified international equities investments. Great little country in which to save for the future, eh?
Does that mean they lose out on customers from across Europe and Canada? It would be great if some paper high lighted the issues and explained why making KIIDs is such an obstacle.Vanguard have confirmed to me they will not be producing KIIDs for US-listed ETFs, which means that we will effectively be left with no option but to invest in UCITS ETFs, and suffer Revenue's lunatic rules on deemed disposal, if we want access to liquid, diversified international equities investments. Great little country in which to save for the future, eh?
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