401k exception to European Economic Area PRIIPS trading restrictions?

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401k exception to European Economic Area PRIIPS trading restrictions?

Post by michaelotal » Thu Nov 08, 2018 10:54 am

On November 1st, TD Ameritrade announced that effective November 12th they would restrict EEA-based investors from trading in PRIIPS including ETFs due to changes in the EU regulatory framework

I have responded that my Solo Roth 401k is out of scope for their restriction because REGULATION (EU) No 1286/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL CHAPTER I, Article 2, section 2 states: “This Regulation shall not apply to the following products: …. (e) pension products which, under national law, are recognised as having the primary purpose of providing the investor with an income in retirement and which entitle the investor to certain benefits;"

And the Solo Roth 401k is clearly a pension product recognised under US national law as having this primary purpose.

TD Ameritrade say that they are now having a researcher look at this claimed exception, however I feel I am running out of time.

Has anyone else managed to use this exception for their 401ks to eliminate a PRIIPS trading restriction, either with TD Ameritrade or another financial institution?


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