Regulatory Alerts2022-01-01
Justifications for the Decree Implementing the Pan-European Personal Pension Product Act and Amending Professional Competence Decrees
The Czech National Bank issued this decree to implement the Pan-European Personal Pension Product (PEPP) Act and amend related professional competence decrees for capital market and insurance distributors. It establishes detailed application requirements, registration procedures, information obligations, and the specific professional knowledge and skills mandated for PEPP distribution across the Czech Republic. The regulation aligns national rules with EU Regulation 2019/1238, incorporates EIOPA guidelines, and confirms compliance with data protection, non-discrimination, and digital legislation standards while imposing no additional fiscal or environmental burdens.
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