The Association of Investment Companies (AIC) has called for Key Information Documents (KIDs) to be suspended following the publication of its report ‘Burn before reading’ which demonstrates conclusively that KIDs are systematically flawed due to their reliance on past performance as a basis for future projections. In its response to the FCA’s ‘Call for Input: PRIIPs Regulation’, the AIC has also urged the FCA to act swiftly to protect consumers and warn them not to rely on these documents when making investment decisions…

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