THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) [OJ L 352, 9.12.2014, p. 1.], and in particular Article 8(5) thereof,
Whereas:
(1) Pursuant to Article 32(1) of Regulation (EU) No 1286/2014, management companies as defined in Article 2(1)(b) of Directive 2009/65/EC of the European Parliament and of the Council [Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast) (OJ L 302, 17.11.2009, p. 32).], investment companies as referred to in Article 27 thereof and persons advising on, or selling, units of UCITS as referred to in Article 1(2) thereof
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