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Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs)
Article 11

Article 11

  1. The PRIIP manufacturer shall not incur civil liability solely on the basis of the key information document, including any translation thereof, unless it is misleading, inaccurate or inconsistent with the relevant parts of legally binding pre-contractual and contractual documents or with the requirements laid down in Article 8.
  2. A retail investor who demonstrates loss resulting from reliance on a key information document under the circumstances referred to in paragraph 1, when making an investment into the PRIIP for which that key information document was produced, may claim damages from the PRIIP manufacturer for that loss in accordance with national law.
  3. Elements such as loss or damages as referred to in paragraph 2 of this Article which are not defined shall be interpreted and applied in accordance with the applicable national law as determined by the relevant rules of private international law.
  4. This Article does not exclude further civil liability claims in accordance with national law.
  5. The obligations under this Article shall not be limited or waived by contractual clauses.