EIOPA established the 21-member expert practitioner panel on the Pan-European Personal Pension Product (PEPP). The objectives of the expert practitioner panel on PEPP are to inform the policy work of EIOPA, to test policy proposals, and to act as a sounding board supporting EIOPA to deliver on its mandate. With the insights of the expert practitioner panel, EIOPA will develop superior solutions and smart policy advice that incentivizes financial innovation for the benefit of the European consumers.
The support from the panel is important to deliver on the forthcoming PEPP Regulation's policy perspective to design a PEPP that exhibits high-quality product features around information provision, risk-mitigating techniques, and a cost cap for the basic PEPP. PEPP is designed to become a truly European, safe, transparent, and cost-effective long-term retirement savings product that will offer pensions savers an entirely new personal pensions framework for saving for adequate future retirement income. In 2016, EIOPA had provided its advice to EC, wherein it recommended the creation of a PEPP in the form of a complimentary regime, alongside the national regimes. EC had proposed a regulation on PEPP in June 2017. According to the proposal, EIOPA would take on the responsibility for ensuring fully consistent quality criteria for the authorization, licensing, and therewith passporting of PEPP.
Keywords: Europe, EU, Insurance, Pensions, Personal Pensions, PEPP, EIOPA
Previous ArticleRBNZ Consults on Framework for Identifying D-SIBs
The Hong Kong Monetary Authority (HKMA) revised the Supervisory Policy Manual module CG-5 that sets out guidelines on a sound remuneration system for authorized institutions.
The European Banking Authority (EBA) published the final guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate parent undertakings in European Union (EU), as laid down in the Capital Requirements Directive (CRD).
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Securities and Markets Authority (ESMA) published recommendations from the Working Group on Euro Risk-Free Rates (RFR) on the switch to risk-free rates in the interdealer market.
The European Central Bank (ECB) published a paper as well as an article in the July Macroprudential Bulletin, both of which offer insights on the assessment of the impact of Basel III finalization package on the euro area.
The International Swaps and Derivatives Association (ISDA) published a paper that explores the impact of the Fundamental Review of the Trading Book (FRTB) on the trading of carbon certificates.
The Prudential Regulation Authority (PRA) published the remuneration policy self-assessment templates and tables on strengthening accountability.