On 24 February 2021, the European Commission published:
- Commission Delegated Regulation of 24.2.2021 supplementing Regulation (EU) No 2019/1238 of the European Parliament and of the Council with regard to additional information for the purposes of the convergence of supervisory reporting. Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) introduces an EU-wide complementary personal pension savings framework. In accordance with the PEPP Regulation, the Delegated Regulation seeks to supplement the PEPP Regulation by specifying the additional information referred to in Article 40, with a view to ensuring to the appropriate extent convergence of supervisory reporting.
- Commission Delegated Regulation supplementing Regulation (EU) No 2019/1238 of the European Parliament and of the Council with regard to product intervention. The Delegated Regulation supplements the PEPP Regulation with criteria and factors to be applied by EIOPA in determining when there is a significant PEPP saver protection concern and thus that its intervention is warranted against a particular PEPP product. These criteria and factors are based on the long term retirement nature of the product, and provide further detail on what constitutes a threat to the orderly functioning and integrity of financial markets or to the stability of the whole or part of the financial system of the EU referred to in Article 65.
The next step is for the Council of the EU and the European Parliament to consider the Delegated Regulations. If neither the Council nor the Parliament object, they will be published in the Official Journal of the European Union (OJ) and will enter into force on the 20th day following their publication in the OJ.