# L_2021197EN.01000501.xml

| 4.6.2021 | EN | Official Journal of the European Union | L 197/5 |
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4.6.2021

EN

Official Journal of the European Union

L 197/5

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COMMISSION DELEGATED REGULATION (EU) 2021/896

of 24 February 2021

supplementing Regulation (EU) 2019/1238 of the European Parliament and of the Council with regard to additional information for the purposes of the convergence of supervisory reporting

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) (1) and in particular Article 40(9), first subparagraph thereof,

Whereas:

| (1) | Pan-European Personal Pension Product (PEPP) providers are subject to several Union and national sectoral legislation within the financial services field, and the corresponding sectoral reporting requirements to their competent authorities, including the European Supervisory Authorities. It is necessary to take a standardised approach as regards the information that is necessary for the purposes of supervision in addition to the information provided under the relevant sectorial law in order to mitigate the possibility of national divergent substantial additional reporting requirements. The Commission invited the European Insurance and Occupational Pensions Authority to provide technical guidance. |
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(1)

Pan-European Personal Pension Product (PEPP) providers are subject to several Union and national sectoral legislation within the financial services field, and the corresponding sectoral reporting requirements to their competent authorities, including the European Supervisory Authorities. It is necessary to take a standardised approach as regards the information that is necessary for the purposes of supervision in addition to the information provided under the relevant sectorial law in order to mitigate the possibility of national divergent substantial additional reporting requirements. The Commission invited the European Insurance and Occupational Pensions Authority to provide technical guidance.

| (2) | A standardised set of information is necessary for improved comparability and greater efficiency and to avoid double reporting linked to sectoral information requirements, |
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(2)

A standardised set of information is necessary for improved comparability and greater efficiency and to avoid double reporting linked to sectoral information requirements,

HAS ADOPTED THIS REGULATION:

Article 1

The additional information referred to in Article 40(1) to (5) of Regulation (EU) 2019/1238 shall include the following information:

| (a) | a description of the risk management system of the PEPP provider, including its governance, for managing the risks deriving from PEPP products; |
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(a)

a description of the risk management system of the PEPP provider, including its governance, for managing the risks deriving from PEPP products;

| (b) | a description of the business pursued by the PEPP provider relative to the sector in which the PEPP provider operates, including the type of investments made and their management, whether the investments are active or passive, whether guarantees are offered or not, the implementation of risk-mitigation techniques, the size in terms of contributions and asset values, and a list comprising the home Member State of the PEPP provider and any host Member States of the PEPP provider; |
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(b)

a description of the business pursued by the PEPP provider relative to the sector in which the PEPP provider operates, including the type of investments made and their management, whether the investments are active or passive, whether guarantees are offered or not, the implementation of risk-mitigation techniques, the size in terms of contributions and asset values, and a list comprising the home Member State of the PEPP provider and any host Member States of the PEPP provider;

| (c) | the information on which written policies PEPP providers are to have in place addressing relevant risks; |
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(c)

the information on which written policies PEPP providers are to have in place addressing relevant risks;

| (d) | information on the valuation principles applied for solvency purposes, where applicable; |
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(d)

information on the valuation principles applied for solvency purposes, where applicable;

| (e) | an overview of the relevant risks pertaining or linked to the provision of PEPP and how the PEPP provider intends to manage those risks, including but not limited to financial and liquidity risks, market risks, credit risks, reputational risks and risks related to environmental, social and governance factors; |
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(e)

an overview of the relevant risks pertaining or linked to the provision of PEPP and how the PEPP provider intends to manage those risks, including but not limited to financial and liquidity risks, market risks, credit risks, reputational risks and risks related to environmental, social and governance factors;

| (f) | the information with regard to the capital structure of the PEPP provider, including capital ratios and levels of leverage; |
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(f)

the information with regard to the capital structure of the PEPP provider, including capital ratios and levels of leverage;

| (g) | information on contracts held by a PEPP provider, or regarding contracts entered into with third parties, including the obligations towards PEPP savers during the decumulation phase, or for the provision of PEPP sub-accounts. |
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(g)

information on contracts held by a PEPP provider, or regarding contracts entered into with third parties, including the obligations towards PEPP savers during the decumulation phase, or for the provision of PEPP sub-accounts.

Article 2

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 24 February 2021.

For the Commission

The President

Ursula VON DER LEYEN

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(1)  
  OJ L 198, 25.7.2019, p. 1.

1

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