Cooperation between competent authorities and with EIOPA
Article 13
1. The cooperation between the competent authorities and with EIOPA shall cover at least the following areas: (a) supervision; (b) inspections and investigations; (c) identification and remediation of infringements of Regulation (EU) 2019/1238; (d) information on complaints; (e) planned supervisory actions against the PEPP provider or distributor where relevant for the PEPP product; (f) planned supervisory actions to mitigate PEPP savers’ detriment including the intended exercise of product intervention powers referred to in Article 63 of Regulation (EU) 2019/1238. 2. EIOPA shall annually provide the concerned competent authority of the host Member State with the supervisory information related to the PEPP provided in that Member State, as provided in Article 14. 3. Upon a request made pursuant to Article 16, competent authorities and EIOPA shall exchange, to the extent available to them, any information related to the PEPP, which is relevant for carrying out their duties and not provided for in Article 15. 4. Where appropriate, the competent authority of the home Member State shall promptly inform the competent authority of the host Member State about any findings from its supervisory review processes, which relate to risks arising from or affecting the cross-border sales or sub-accounts of the PEPP. The competent authority of the home Member State shall provide that information in cases where the competent authority of the host Member State has already raised concerns. 5. The competent authority of the host Member State shall promptly inform the competent authority of the home Member State if it has reasons to consider that the activities of a PEPP provider might affect the financial soundness of that PEPP provider or the protection of consumers in other Member States. 6. The competent authority of the home Member State shall cooperate with the competent authority of the host Member State to assess whether the PEPP provider has a clear understanding of the target market and the risks that the products face or may face in the host Member State, and which specific related risk management tools and internal controls are in place, having regard to the proportionality principle and the risk-based approach. 7. Cooperation shall particularly focus on the following risk areas: (a) profile of the PEPP savers; (b) local PEPP partnerships and distribution partners; (c) complaints handling; (d) compliance; (e) consumer protection and any other aspects relating to the conduct of the PEPP provider and the PEPP distributor, including product oversight and governance requirements.