EU Warns Of Uneven Rollout Of Pensions Directive

Law360, London (November 13, 2020, 4:54 PM GMT) -- Europe's pensions watchdog has warned that regulators across the region are threatening a level playing field by taking differing approaches to authorizing cross-border workplace retirement schemes.

The European Insurance and Occupational Pensions Authority said it was important that European Union member states achieve "supervisory convergence" on granting permissions for pension plans to operate.

Member countries were required by January 2019 to have transposed into domestic law the Institutions for Occupational Retirement Provision II Directive. The 2016 rules impose stricter controls on fund providers wishing to transfer portfolios across national borders.

But some states have yet to fully transpose the directive, known...

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