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 grants the FMA comprehensive powers to monitor PEPP providers and distributors, enforce compliance with information and governance standards, and impose administrative penalties of up to EUR 700,000 for breaches. It also establishes the FMA as the collection body for the European Single Access Point and outlines specific procedural rules for supervision, reporting, and enforcement within Austria.
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