Well thank MIFID 2 and PRIIPs for that. I was hoping we were going to get rid of these after Brexit but apparently they’ll stay.
As far as I can remember EUC made an announcement like this: (May be I remember some words differently but still factually accurate)
You cannot buy VNQ or SPY that is way too dangerous for a retail investor… well because it does not have a document we just came up with! Instead you’ll have to buy something that is domiciled in Ireland because none of those companies will care about writing a KIID document for their US domiciled ETFs. Why would they? when they can package the same thing in here and increase the amount they charge 7 to 20 times.
Yeah… yeah… penny stocks and CFD and many other tools are are way more dangerous than a professionally managed ETF we are well aware but who cares about the risk, and the retail investors? we just came up with this because some very wealthy and powerful people asked us to create ways for them to make more money.
Although this makes no sense, you have no voice or vote on making a decision on this, try to reach or find someone who votes on this piece of legislation (lol)