What PRIIPS brings
Regulation 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) introduces an obligation to provide customers who are not professional according to MiFID II regulation with Key information document (KID) prior to any investment in a retail investment product.
Products of financial markets
KB will create and provide KID to customers investing in dual and structured deposits. Because these products are traded by phone, the customer receives the KID in an electronic form to his or her email address communicated to KB for this purpose.
KB provides KID to each product individually, i.e. each KID is specific and contains specific information related to the individual trade. As each product has different parameters and a specific KID is prepared for each product, it is not possible to publish all KIDs on KB’s website. Nevertheless, for better understanding, KB presents an illustrative example of dual deposit KID. Please note that this example is only illustrative and is intended to help clients with orientation in the information provided in KIDs. The information provided must not be considered binding as it will differ in each individual case.
KID for Dual currency deposit
KB does not provide KIDs for hedging transactions. Nevertheless, on a client’s request, KB is ready to provide specific information related to hedging trades, even to clients categorized as professional according to MiFID II regulation. The provision of such information might be subject to fees.
Other structured retail investment products and insurance-based investment products
KB provides KIDs to clients when offering other products, namely investment funds and investment life insurance. A client will be provided with a KID ahead of their first investment in the chosen product in a pre-agreed form, i.e. electronically or on paper.
KB is not a manufacturer of these products. Amundi Czech Republic, investment company, a.s., is the primary manufacturer of the investment funds offered by KB and KIDs are available on the website of this company, where clients can access them ahead of any investment.
The list of currently offered funds is available here.
The KID is available in detailed information of each fund.
The manufacturer of investment life insurance offered by KB is Komerční pojišťovna, a.s. KIDs of individual funds which might be invested in within this product type are available here.
Notice to investors
Shall a client decide to invest in other structured retail investment products not normally offered by KB, KB cannot guarantee they will receive the KID. The reason for not providing the KID might be its non-existence (in case the PRIIPs regulation does not apply to the manufacturer of the product), the non-existence of the Czech version of the KID or other circumstances that make it difficult to obtain the KID and provide it to the client in Czech.