Recital 1

(1)Pan-European Personal Pension Product (PEPP) providers are subject to several Union and national sectoral legislation within the financial services field, and the corresponding sectoral reporting requirements to their competent authorities, including the European Supervisory Authorities. It is necessary to take a standardised approach as regards the information that is necessary for the purposes of supervision in addition to the information provided under the relevant sectorial law in order to mitigate the possibility of national divergent substantial additional reporting requirements. The Commission invited the European Insurance and Occupational Pensions Authority to provide technical guidance.