Pan-European Personal Pension Products: the AMF complies with EIOPA guidelines

Context

The Regulation of the European Parliament and of the Council of 20 June 2019 on a Pan-European Personal Pension Product (PEPP Regulation), applicable from 22 March 2022, provides uniform European rules on the registration, manufacturing, distribution and supervision of Pan-European Personal Pension Products (PEPP). These are aimed at individuals who wish to save individually for their retirement, in addition to compulsory and occupational schemes.

The AMF designated as competent authority for plans provided by investment service providers

The AMF was designated as the competent authority for the supervision and control of investment service providers, including investment management companies, providing PEPPs and for the registration of such a product by Law No. 2023-171 of 9 March 2023, which contains various provisions adapting economic, health, labour, transport and agricultural legislation to European Union law.

In accordance with this Regulation, PEPP providers have to submit to their competent authorities a supervisory report on PEPPs marketed.

Content of the EIOPA guidelines on PEPP supervisory reporting

The guidelines clarify the following points:

• the procedures for submitting PEPP supervisory reports;
• the detailed content of these reports, including information on the characteristics of the PEPP, its governance structure, the investment strategy adopted, the risk management system in place and the prudential framework of the PEPP provider.

The AMF complies with these guidelines and has incorporated them in a new position DOC-2023-08.