Regulatory Alerts2026-04-16
Pan-European Personal Pension Product Enforcement Act (PEPP-Vollzugsgesetz)
The Austrian Federal Act transposes Regulation (EU) 2019/1238 on the Pan-European Personal Pension Product (PEPP) into national law, designating the Austrian Financial Market Authority (FMA) as the competent supervisory authority. The legislation empowers the FMA to monitor PEPP providers and distributors, enforce compliance with key information and distribution requirements, and impose administrative fines of up to EUR 700,000 for breaches. Additionally, the Act establishes the FMA as the collection body for the European Single Access Point and outlines specific penal provisions for violations of PEPP regulatory standards.
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