AI Summary of Article 15 Exercise of the freedom to provide services by IORPs and EU AIFM
PEPP providers intending to offer PEPPs in a host Member State under the freedom to provide services must notify their home competent authorities, when opening a host sub-account, of the provider's name and address and the Member State of intended provision. The home authority must transmit that information within 10 working days to the host authority with confirmation of compliance with Article 6(1), unless it has reason to doubt the provider's administrative structure or financial situation; the host authority must acknowledge receipt within 10 working days and then the home authority informs the provider it may commence provision.
If the home authority refuses to transmit the information it must give reasons to the provider within one month of receipt of all documents; refusals or failures to reply are subject to appeal in the provider's home courts. Providers must notify changes to the information at least one month before implementation; the home authority must inform the host as soon as possible and no later than one month. Host Member States may designate other competent authorities and must inform the Commission and EIOPA, specifying any division of duties.
Article 15 Exercise of the freedom to provide services by IORPs and EU AIFM
1. PEPP providers as referred to in points (c) and (f) of Article 6(1) which intend to provide PEPPs to PEPP savers within the territory of a host Member State for the first time under the freedom to provide services and after notifying their intention to open a sub-account for this host Member State in accordance with Article 21, shall communicate the following information to the competent authorities of their home Member State:
(a) the name and address of the PEPP provider;
(b) the Member State in which the PEPP provider intends to provide or distribute PEPPs to PEPP savers.