Swiss KIIDs, PRIIPs, KIDs - did something change

Finance, Taxes, Banking, Insurance and Retirement
1

My broker just emailed to cancel orders with the reasoning that I’m no longer allowed to trade these US ETFs.

Looking for changes in regulations, I saw this:

https://www.waystone.com/swiss-kids-…and-deadlines/

But that deadline mentions 1 January 2023. Did something change more recently? I’m not sure why this triggered today.

2

Did you see this? “US-domiciled ETFs: why they are no longer available from many online brokers”

Maybe your broker just woke from his winter hibernation.

3
It’s catch up time! This has been a hot discussion over the past 18 months or so. Most US AM are not going to comply because of the disclosure requirements - too much dirty linen!

4
Are there any US ETFs that comply?

5
I'm just wondering if they were non-compliant for 3 months, or something changed, or there was some kind of 3 month grace period. Seems too coincidental that it happened after the last trading day of the quarter.

6
Agree with the wondering, same here.

But the quarter ended a month ago; this is more like a trimester. (unless it's some financial reporting timeshift)

7
Are you referring to Interactive Brokers (UK)? They seem to have added restrictions based on MiFID II, which is a EU regulation that still applies to the UK, and not based on Swiss FIDLEG.

It's unclear whether they were actually legally required to apply this to customers independent of their residence or whether this change may have been a mistake.

Regarding timing, as DEGIRO has recently made the KID requirements more strict (language requirement), I'm wondering whether regulators have been intervening. I.e., maybe they have been non-compliant for even longer. Or the timing is related to the new UK tax year (6 Apr) but that wouldn't quite fit either.