I just received a message from Hargreaves Lansdowne that states in part:
“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. “
I hold some US ETFs e.g. ROBO, FFTY where the issuers have no intention to produce KIDs to meet UK regulations and it seems therefore that we will be unable to buy US ETFs such as these in future.
HL say that all UK stockbrokers will be subject to the regulations. Has anyone else received notification?
