A week or so ago, I made a post on here about the most recent PRIIPS legislation in Europe
The Gist of said Legislation means your Broker won't be able to purchase US based ETFs without a KID document.
I made it my mission to email as many of the ETF providers as possible,
Here are some of their responses,
Vanguard
We thank you for your queries. Vanguard offers an extensive range of MiFID II-compliant European domiciled UCITS ETFs throughout Europe. Please send an email to European_client_services@vanguard.co.uk and we’ll respond with this list. We’re confident you’ll find investments that meet your needs. However, if you have further queries please send an email to the address above.
Direxion ETF | Funds
Good Morning John, Thank you for your note. We have only recently been made aware of the MFID II new requirements inclusive of KID/KIID document and current halt on European investors to trade our ETFS. We are working with our legal counsel in Europe to determine how best to remediate the issue. We do not yet have a firm timeline for re-admittance. We will provide an update on our website when we are closer to a resolution.
We are however actively working to investigate and hopefully resolve this issue.
Global X Funds
Thank you for your interest in the Global X Funds. Thank you for your inquiry. While US registered ETFs are not subject to MIFID II, we are working to understand the implications of the new EU regulations on EU brokers that may provide access to our products on their platforms. Over the next couple of weeks, we ask that you check http://ift.tt/2m3pHRj for an update on our findings. For further questions, please call an Investor Services Representative by dialing 1-888-493-8631 Monday - Friday, 8:30 AM to 5:00 PM ET, or visit our website at www.globalxfunds.com. Again, thank you for your interest in the Global X Funds.
ARK Funds
Thank you for your interest in ARK ETFs. We are aware of the issue and are currently looking into possible solutions, in order to meet the new requirements.
We hope to provide you with an update shortly.
These all say roughly the same thing, Working on it, I also had this response from Horizons, Makers of the HMMJ Marijuana ETF,
Horizons ETFs
Thank you for your question. We are aware of these particular regulations. Our understanding is that these rules are intended to regulate European Investment Managers and Broker Dealers. Horizons ETFs falls under neither of these categories and has no operations or offerings in the EU. Rather, we have 81 Exchange Traded Funds (ETFs) that trade on the Toronto Stock Exchange. We are not aware of any aspect of the rules which would prevent, in any way, the purchase of our securities by any EU entity or individual investor. Our current understanding is that we are not subject to these particular EU regulations. On our website there are available certain documents that contain pertinent information regarding our ETFs (i.e. Fund Summary, Prospectus, and Product Sheet). We hope you understand and please do not hesitate to contact us again with any questions.
They don't seem to know what they are talking about, This legislation means that brokers cannot sell you the product without a PRIIP being provided.
In the case of the other 3 Progress is being made to make these funds available to european customers again,
Submitted January 07, 2018 at 07:17AM by john-r http://ift.tt/2m47Idr
