When analysing the potential costs and benefits arising from the proposed options for amending the PRIIPs Delegated Regulation, these have been compared to a baseline scenario of no regulatory intervention taking place. This baseline scenario entails:
• For PRIIPs other than UCITS and relevant non-UCITS funds referred to in Article 32 of the PRIIPs Regulation, the continued application of the PRIIPs Regulation and Delegated Regulation;
• For UCITS and relevant non-UCITS funds referred to in Article 32 of the PRIIPs Regulation, the implementation of the PRIIPs KID based on the current PRIIPs Delegated Regulation in view of the expiry of the exemption in Article 32 of the PRIIPs Regulation.