Portugal's Insurance and Pension Funds Supervisory Authority sets PEPP supervisory reporting requirements incorporating EIOPA guidance

Portugal's Insurance and Pension Funds Supervisory Authority (ASF) issued a regulatory standard setting the nature, scope and format of information that Pan-European Personal Pension Product (PEPP) providers must submit for product supervision, incorporating the European Insurance and Occupational Pensions Authority’s (EIOPA) reporting guidelines into the domestic framework. The requirements apply to Portugal-headquartered insurers and pension fund management companies authorised to manage pension funds in Portugal when acting as PEPP providers. Providers must submit (i) quantitative information using the EU PEPP reporting templates annually within 16 weeks of financial year-end and, for specified templates, also as fourth-quarter quarterly reporting, and (ii) a PEPP supervisory report at least every three years within 18 weeks of year-end, with the first report due within 18 weeks after the end of the PEPP registration year. The supervisory report must cover, at a minimum, PEPP activity and governance (including distribution controls, switching procedures and complaints), investment strategy and performance by option, risk management and risk-mitigation techniques (including derivatives monitoring), and certain prudential framework information where applicable. Submissions are made via PortalASF, with insurers using XBRL aligned to the EIOPA taxonomy and other in-scope entities using ASF-specified reporting files; material post-submission changes must be re-filed and ASF can require more frequent or additional information on a risk basis. The standard enters into force the day after publication.