Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast) (Text with EEA relevance)

Statement of investment policy principles

Member States shall ensure that every IORP registered or authorised in their territories prepares and, at least every three years, reviews a written statement of investment-policy principles. That statement is to be revised without delay after any significant change in the investment policy. Member States shall provide for this statement to contain, at least, such matters as the investment risk measurement methods, the risk-management processes implemented and the strategic asset allocation with respect to the nature and duration of pension liabilities and how the investment policy takes environmental, social and governance factors into account. The statement shall be made publicly available.

CHAPTER 2 Outsourcing and investment management

Article 31

Outsourcing

• (a) impairing the quality of the system of governance of the IORP concerned;

• (b) unduly increasing the operational risk;

• (c) impairing the ability of the competent authorities to monitor the compliance of the IORP with its obligations;

• (d) undermining continuous and satisfactory service to members and beneficiaries.

Article 32

Investment management

Member States shall not restrict IORPs from appointing, for the management of the investment portfolio, investment managers established in another Member State and duly authorised for this activity, in accordance with Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU and 2014/65/EU, as well as the authorised entities referred to in Article 2(1) of this Directive.

CHAPTER 3 Depositary

Article 33

Appointment of a depositary

Article 34

Safekeeping of assets and depositary liability

For those purposes, the depositary shall ensure that the financial instruments which can be registered in a financial instruments account opened in the depositary's books are registered in the depositary's books within segregated accounts in accordance with the rules laid down in Directive 2014/65/EU, opened in the name of the IORP, so that they can be clearly identified as belonging to the IORP or the pension scheme's members and beneficiaries at all times.

• (a) ensure that financial instruments are subject to due care and protection;

• (b) keep records that enable the IORP to identify all assets at all times and without delay;

• (c) take the necessary measures to avoid conflicts of interest in relation to the safe-keeping of assets;

• (d) inform the competent authorities, upon request, about the manner in which assets are kept.

Article 35

Oversight duties

• (a) carry out instructions of the IORP, unless they conflict with national law or the IORP's rules;

• (b) ensure that in transactions involving the assets of an IORP relating to a pension scheme any consideration is remitted to the IORP within the usual time limits; and

• (c) ensure that income produced by assets is applied in accordance with the rules of the IORP.

TITLE IV INFORMATION TO BE GIVEN TO PROSPECTIVE MEMBERS, MEMBERS AND BENEFICIARIES

CHAPTER 1 General provisions

Article 36

Principles

• (a) prospective members: at least the information set out in Article 41;

• (b) members: at least the information set out in Articles 37 to 40, 42 and 44; and

• (c) beneficiaries: at least the information set out in Articles 37, 43 and 44.

• (a) regularly updated;

• (b) written in a clear manner, using clear, succinct and comprehensible language, avoiding the use of jargon and avoiding technical terms where everyday words can be used instead;

• (c) not misleading, and consistency shall be ensured in the vocabulary and content;

• (d) presented in a way that is easy to read;

• (e) available in an official language of the Member State whose social and labour law relevant to the field of occupational pension schemes is applicable to the pension scheme concerned; and

• (f) made available to prospective members, members and beneficiaries free of charge through electronic means, including on a durable medium or by means of a website, or on paper.

Article 37

General information on the pension scheme

• (a) the name of the IORP, the Member State in which the IORP is registered or authorised and the name of its competent authority;

• (b) the rights and obligations of the parties involved in the pension scheme;

• (c) information on the investment profile;

• (d) the nature of financial risks borne by the members and beneficiaries;

• (e) the conditions regarding full or partial guarantees under the pension scheme or of a given level of benefits or, where no guarantee is provided under the pension scheme, a statement to that effect;

• (f) the mechanisms protecting accrued entitlements or the benefit reduction mechanisms, if any;

• (g) where members bear investment risk or can take investment decisions, information on the past performance of investments related to the pension scheme for a minimum of five years, or for all the years that the scheme has been operating where this is less than five years;

• (h) the structure of costs borne by members and beneficiaries, for schemes which do not provide for a given level of benefits;

• (i) the options available to members and beneficiaries in receiving their retirement benefits;

• (j) in case a member has the right to transfer pension rights, further information about the arrangements relating to such a transfer.

CHAPTER 2 Pension Benefit Statement and supplementary information

Article 38

General provisions

Article 39

Pension Benefit Statement

• (a) personal details of the member, including a clear indication of the statutory retirement age, the retirement age laid down in the pension scheme or estimated by the IORP, or the retirement age set by the member, as applicable;

• (b) the name of the IORP and its contact address and identification of the pension scheme of the member;

• (c) where applicable, information on full or partial guarantees under the pension scheme and if relevant, where further information can be found;

• (d) information on pension benefit projections based on the retirement age as specified in point (a), and a disclaimer that those projections may differ from the final value of the benefits received. If the pension benefit projections are based on economic scenarios, that information shall also include a best estimate scenario and an unfavourable scenario, taking into consideration the specific nature of the pension scheme;

• (e) information on the accrued entitlements or accumulated capital taking into consideration the specific nature of the pension scheme;

• (f) information on the contributions paid by the sponsoring undertaking and the member into the pension scheme, at least over the last 12 months, taking into consideration the specific nature of the pension scheme;

• (g) a breakdown of the costs deducted by the IORP at least over the last 12 months;

• (h) information on the funding level of the pension scheme as a whole.

Article 40

Supplementary information

• (a) further practical information about the member's options provided under the pension scheme;

• (b) the information specified in Articles 29 and 30;

• (c) where applicable, information about the assumptions used for amounts expressed in annuities, in particular with respect to the annuity rate, the type of provider and the duration of the annuity;

• (d) information on the level of benefits, in case of cessation of employment.

CHAPTER 3 Other information and documents to be provided

Article 41

Information to be given to prospective members

• (a) any relevant options available to them including investment options;

• (b) the relevant features of the pension scheme including the kind of benefits;

• (c) information on whether and how environmental, climate, social and corporate governance factors are considered in the investment approach; and

• (d) where further information is available.

• (a) any relevant options available to them including investment options;

• (b) the relevant features of the pension scheme including the kind of benefits;

• (c) information on whether and how environmental, climate, social and corporate governance factors are considered in the investment approach; and

• (d) where further information is available.

Article 42

Information to be given to members during the pre-retirement phase

In addition to the Pension Benefit Statement, IORPs shall provide each member, in due time before the retirement age as specified in point (a) of Article 39(1), or at the request of the member, with information about the benefit pay-out options available in taking their retirement benefits.

Article 43

Information to be given to beneficiaries during the pay-out phase

Article 44

Additional information to be given on request to members and beneficiaries

On request of a member, a beneficiary or their representatives, the IORP shall provide the following additional information:

• (a) the annual accounts and the annual reports referred to in Article 29, or where an IORP is responsible for more than one scheme, those accounts and reports relating to their particular pension scheme;

• (b) the statement of investment policy principles, referred to in Article 30;

• (c) any further information about the assumptions used to generate the projections referred to in point (d) of Article 39(1).

TITLE V PRUDENTIAL SUPERVISION

CHAPTER 1 General rules on prudential supervision

Article 45

Main objective of prudential supervision

Article 46

Scope of prudential supervision

Member States shall ensure that IORPs are subject to prudential supervision including the supervision of the following where applicable:

• (a) conditions of operation;

• (b) technical provisions;

• (c) funding of technical provisions;

• (d) regulatory own funds;

• (e) available solvency margin;

• (f) required solvency margin;

• (g) investment rules;

• (h) investment management;

• (i) system of governance; and

• (j) information to be provided to members and beneficiaries.

Article 47

General principles of prudential supervision

Article 48

Powers of intervention and duties of the competent authorities

• (a) the IORP has failed to establish sufficient technical provisions in respect of the entire business or has insufficient assets to cover the technical provisions;

• (b) the IORP has failed to hold the regulatory own funds.

• (a) the IORP fails to protect adequately the interests of scheme members and beneficiaries;

• (b) the IORP no longer fulfils the conditions of operation;

• (c) the IORP fails seriously in its obligations under the rules to which it is subject;

• (d) in the case of cross-border activity, the IORP does not respect the requirements of social and labour law of the host Member State relevant to the field of occupational pension schemes.

Article 49

Supervisory review process

That review shall take into account the circumstances in which the IORPs are operating, and, where relevant, the parties carrying out outsourced key functions or any other activities for them. The review shall comprise the following elements:

• (a) an assessment of the qualitative requirements relating to the system of governance;

• (b) an assessment of the risks the IORP faces;

• (c) an assessment of the ability of the IORP to assess and manage those risks.

Article 50

Information to be provided to the competent authorities

Member States shall ensure that the competent authorities, in respect of any IORP registered or authorised in their territories, have the necessary powers and means to:

• (a) require the IORP, the administrative, management or supervisory body of the IORP or the persons who effectively run the IORP or carry out key functions to supply at any time information about all business matters or forward all business documents;

• (b) supervise relationships between the IORP and other companies or between IORPs, when IORPs outsource key functions or any other activities to those other companies or IORPs and all subsequent re-outsourcing, influencing the financial situation of the IORP or being in a material way relevant for effective supervision;

• (c) obtain the following documents: the own-risk assessment, the statement of investment-policy principles, the annual accounts and the annual reports, and all other documents necessary for the purposes of supervision;

• (d) lay down which documents are necessary for the purposes of supervision, including:
• (i) internal interim reports;
• (ii) actuarial valuations and detailed assumptions;
• (iii) asset-liability studies;
• (iv) evidence of consistency with the investment-policy principles;
• (v) evidence that contributions have been paid in as planned;
• (vi) reports by the persons responsible for auditing the annual accounts referred to in Article 29;

• (e) carry out on-site inspections at the IORP's premises and, where appropriate, on outsourced and all subsequent re-outsourced activities to check if activities are carried out in accordance with the supervisory rules;

• (f) request information from IORPs about outsourced and all subsequent re-outsourced activities at any time.

Article 51

Transparency and accountability

• (a) the texts of laws, regulations, administrative rules and general guidance in the field of occupational pension schemes, and information about whether the Member State chooses to apply this Directive in accordance with Articles 4 and 5;

• (b) information regarding the supervisory review process as set out in Article 49;

• (c) aggregate statistical data on key aspects of the application of the prudential framework;

• (d) the main objective of prudential supervision and information on the main functions and activities of the competent authorities;

• (e) the rules on administrative sanctions and other measures applicable to breaches of national provisions adopted pursuant to this Directive.

CHAPTER 2 Professional secrecy and exchange of information

Article 52

Professional secrecy

Article 53

Use of confidential information

Member States shall ensure that competent authorities which receive confidential information under this Directive use it only in the course of their duties and for the following purposes:

• (a) to check that the conditions for taking up occupational retirement provision business are met by IORPs before commencing their activities;

• (b) to facilitate the monitoring of the activities of IORPs, including the monitoring of the technical provisions, the solvency, the system of governance, and the information provided to members and beneficiaries;

• (c) to impose corrective measures, including administrative sanctions;

• (d) where permitted by national law, to publish key performance indicators for all individual IORPs, which may assist members and beneficiaries in taking financial decisions regarding their pension;

• (e) in appeals against decisions of the competent authorities taken in accordance with the provisions transposing this Directive;

• (f) in court proceedings regarding the provisions transposing this Directive.

Article 54

European Parliament right of inquiry

Articles 52 and 53 shall be without prejudice to the right of inquiry conferred on the European Parliament by Article 226 of the Treaty on the Functioning of the European Union.

Article 55

Exchange of information between authorities

• (a) the exchange of information between competent authorities in the same Member State in the discharge of their supervisory functions;

• (b) the exchange of information between competent authorities in different Member States in the discharge of their supervisory functions;

• (c) the exchange of information, in the discharge of their supervisory functions, between competent authorities and any of the following which are situated in the same Member State:
• (i) authorities responsible for the supervision of financial sector entities and other financial organisations and the authorities responsible for the supervision of financial markets;
• (ii) authorities or bodies charged with responsibility for maintaining the stability of the financial system in Member States through the use of macro-prudential rules;
• (iii) bodies involved in the winding up of a pension scheme and in other similar procedures;
• (iv) reorganisation bodies or authorities aiming at protecting the stability of the financial system;
• (v) persons responsible for carrying out statutory audits of the accounts of IORPs, insurance undertakings and other financial institutions;

• (d) the disclosure, to bodies which administer the winding up of a pension scheme, of information necessary for the performance of their duties.

• (a) the authorities responsible for overseeing the bodies involved in the winding up of pension schemes and other similar procedures;

• (b) the authorities responsible for overseeing the persons charged with carrying out statutory audits of the accounts of IORPs, insurance undertakings and other financial institutions;

• (c) independent actuaries of IORPs carrying out supervision of those IORPs and the bodies responsible for overseeing such actuaries.

Article 56

Transmission of information to central banks, monetary authorities, European Supervisory Authorities and the European Systemic Risk Board

• (a) central banks and other bodies with a similar function in their capacity as monetary authorities;

• (b) other public authorities responsible for overseeing payment systems, where appropriate;

• (c) the European Systemic Risk Board, EIOPA, the European Supervisory Authority (European Banking Authority) established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council ([^E0009]) and the European Supervisory Authority (European Securities and Markets Authority) established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council ([^E0010]).

Article 57

Disclosure of information to government administrations responsible for financial legislation

That disclosure shall be made only where necessary for reasons of prudential control, and prevention and resolution of failing IORPs. Without prejudice to paragraph 2 of this Article, persons having access to the information shall be subject to professional secrecy requirements at least equivalent to those set out in this Directive. Member States shall, however, provide the information received under Article 55, and information obtained by means of on-site verification may only be disclosed with the express consent of the competent authority from which the information originated or of the competent authority of the Member State in which the on-site verification was carried out.

• (a) the entities have the competence under national law to investigate or scrutinise the actions of authorities responsible for the supervision of IORPs or for laws on such supervision;

• (b) the information is strictly necessary for fulfilling the competence referred to in point (a);

• (c) the persons with access to the information are subject to professional secrecy requirements under national law at least equivalent to those set out in this Directive;

• (d) if the information originates from another Member State, that information is disclosed with the explicit agreement of the originating competent authorities and solely for the purposes for which those authorities gave their agreement.

Article 58

Conditions for the exchange of information

• (a) the information shall be exchanged, transmitted or disclosed for the purpose of carrying out oversight or supervision;

• (b) the information received shall be subject to the obligation of professional secrecy laid down in Article 52;

• (c) where the information originates from another Member State, it shall not be disclosed without the express agreement of the competent authority from which it originates and, where appropriate, solely for the purposes for which that authority gave its agreement.

Member States which apply the first subparagraph shall require that at least the following conditions are met:

• (a) the information must be intended for the purpose of detection, and investigation and scrutiny as referred to in point (a) of Article 57(2);

• (b) information received must be subject to the obligation of professional secrecy laid down in Article 52;

• (c) where the information originates from another Member State, it shall not be disclosed without the express agreement of the competent authority from which it originates and, where appropriate, solely for the purposes for which that authority gave its agreement.

Article 59

National provisions of a prudential nature

TITLE VI FINAL PROVISIONS

Article 60

Cooperation between Member States, the Commission and EIOPA

Article 61

Processing of personal data

With regard to the processing of personal data within the framework of this Directive, IORPs and competent authorities shall carry out their tasks for the purposes of this Directive in accordance with Regulation (EU) 2016/679. With regard to the processing of personal data by EIOPA within the framework of this Directive, EIOPA shall comply with Regulation (EC) No 45/2001.

Article 62

Evaluation and review

• (a) the adequacy of this Directive from a prudential and governance point of view;

• (b) cross-border activity;

• (c) the experience acquired in applying this Directive and its impact on the stability of IORPs;

• (d) the Pension Benefit Statement.

Article 63

Amendment of Directive 2009/138/EC

Directive 2009/138/EC is amended as follows:

• (1) in Article 13, point (7) is replaced by the following: ‘(7)“reinsurance” means one of the following:
• (a) the activity consisting in accepting risks ceded by an insurance undertaking or third-country insurance undertaking, or by another reinsurance undertaking or third-country reinsurance undertaking;
• (b) in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's; or
• (c) the provision of cover by a reinsurance undertaking to an institution that falls within the scope of Directive (EU) 2016/2341 of the European Parliament and of the Council ([^E0011]);

• (2) in Article 308b, paragraph 15 is replaced by the following: ‘15. Where, on the entry into force of this Directive, home Member States applied provisions referred to in Article 4 of Directive (EU) 2016/2341, those home Member States may continue to apply the laws, regulations and administrative provisions that had been adopted by them with a view to complying with Articles 1 to 19, Articles 27 to 30, Articles 32 to 35 and Articles 37 to 67 of Directive 2002/83/EC as in force on 31 December 2015 for a transitional period expiring on 31 December 2022. Where a home Member State continues to apply those laws, regulations and administrative provisions, insurance undertakings in that home Member State shall calculate their solvency capital requirement as the sum of the following:
• (a) a notional solvency capital requirement with respect to their insurance activity, calculated without the occupational retirement provision business under Article 4 of Directive (EU) 2016/2341;
• (b) the solvency margin with respect to the occupational retirement provision business, calculated in accordance with the laws, regulations and administrative provisions that have been adopted to comply with Article 28 of Directive 2002/83/EC. By 31 December 2017, the Commission shall submit a report to the European Parliament and to the Council, on whether the period referred to in the first subparagraph should be extended, taking account of changes to Union or national law resulting from this Directive.’.

Article 63a

Accessibility of information on the European single access point

Member States shall ensure that the information complies with the following requirements:

• (a) be submitted in a data extractable format as defined in Article 2, point (3), of Regulation (EU) 2023/2859 or, where required by Union law, in a machine-readable format, as defined in Article 2, point (4), of that Regulation;

• (b) be accompanied by the following metadata:
• (i) all the names of the IORP to which the information relates;
• (ii) the legal entity identifier of the IORP, as specified pursuant to Article 7(4), point (b), of Regulation (EU) 2023/2859;
• (iii) the size of the IORP by category, as specified pursuant to Article 7(4), point (d), of that Regulation;
• (iv) the type of information, as classified pursuant to Article 7(4), point (c), of that Regulation;
• (v) an indication of whether the information contains personal data.

Members States shall ensure that the information complies with the following requirements:

• (a) be submitted in a data extractable format as defined in Article 2, point (3), of Regulation (EU) 2023/2859;

• (b) be accompanied by the following metadata:
• (i) all the names of the person on whom the administrative sanction or other measure was imposed to which the information relates;
• (ii) where available, the legal entity identifier of the person on whom the administrative sanction or other measure was imposed, as specified pursuant to Article 7(4), point (b), of Regulation (EU) 2023/2859;
• (iii) the type of information, as classified pursuant to Article 7(4), point (c), of that Regulation;
• (iv) an indication of whether the information contains personal data.

• (a) any other metadata to accompany the information;

• (b) the structuring of data in the information;

• (c) for which information a machine-readable format is required and, in such cases, which machine-readable format is to be used.

For the purposes of point (c), EIOPA shall assess the advantages and disadvantages of different machine-readable formats and conduct appropriate field tests.

EIOPA shall submit those draft implementing technical standards to the Commission.

Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1094/2010.

Article 64

Transposition

When Member States adopt those measures, they shall contain a reference to this Directive or be accompanied by such a reference on the occasion of their official publication. They shall also include a statement that references in existing laws, regulations and administrative provisions to the Directives repealed by this Directive shall be construed as references to this Directive. Member States shall determine how such reference is to be made and how that statement is to be formulated.

Article 65

Repeal

Directive 2003/41/EC, as amended by the Directives listed in Annex I, Part A, is repealed with effect from 13 January 2019 without prejudice to the obligations of the Member States relating to the time-limits for transposition into national law and the dates of application of the Directives set out in Annex I, Part B.

References to the repealed Directive 2003/41/EC shall be construed as references to this Directive and shall be read in accordance with the correlation table in Annex II.

Article 66

Entry into force

This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Article 67

Addressees

This Directive is addressed to the Member States.

ANNEX I

PART A

Repealed Directive with list of its successive amendments

(referred to in Article 65)

Directive 2003/41/EC of the European Parliament and of the Council (OJ L 235, 23.9.2003, p. 10).
Directive 2009/138/EC of the European Parliament and of the Council (OJ L 335, 17.12.2009, p. 1).	Article 303 only
Directive 2010/78/EU of the European Parliament and of the Council (OJ L 331, 15.12.2010, p. 120).	Article 4 only
Directive 2011/61/EU of the European Parliament and of the Council (OJ L 174, 1.7.2011, p. 1).	Article 62 only
Directive 2013/14/EU of the European Parliament and of the Council (OJ L 145, 31.5.2013, p. 1).	Article 1 only

PART B

List of time-limits for transposition into national law and application

(referred to in Article 65)

Directive	Time-limit for transposition	Date of application
2003/41/EC	23.9.2005	23.9.2005
2009/138/EC	31.3.2015	1.1.2016
2010/78/EU	31.12.2011	31.12.2011
2011/61/EU	22.7.2013	22.7.2013
2013/14/EU	21.12.2014	21.12.2014

ANNEX II

Correlation Table

Directive 2003/41/EC	This Directive
Article 1	Article 1
Article 2	Article 2
Article 3	Article 3
Article 4	Article 4
Article 5	Article 5
Article 6(a)	Article 6(1)
Article 6(b)	Article 6(2)
Article 6(c)	Article 6(3)
Article 6(d)	Article 6(4)
Article 6(e)	Article 6(5)
Article 6(f)	Article 6(6) Article 6(7)
Article 6(g)	Article 6(8)
Article 6(h)	Article 6(9)
Article 6(i)	Article 6(10)
Article 6(j)	Article 6(11) Article 6(12) to (19)
Article 7	Article 7
Article 8	Article 8
Article 9(1)(a)	Article 9
Article 9(1)(c)	Article 10(1)(a)
Article 9(1)(e)	Article 10(1)(b)
Article 9(2)	Article 10(2)
Articles 20, 9(5)	Article 11 Article 12
Article 15(1) to (5)	Article 13(1) to (5)
Article 15(6)
Article 16	Article 14
Article 17	Article 15
Article 17a(1) to (4)	Article 16(1) to (4)
Article 17a(5)
Article 17b	Article 17
Article 17c
Article 17d	Article 18
Article 18	Article 19 Article 20 Article 21
Article 9(1)(b)	Article 22(1) Article 22(2) to (7) Article 23 Article 24 Article 25 Article 26 Article 27 Article 28
Article 10	Article 29
Article 12	Article 30
Article 9(4)	Article 31(1) Article 31(2) to (7)
Article 19(1)	Article 32
Article 19(2) second subparagraph	Article 33(1) Article 33(2)
Article 19(2) first subparagraph	Article 33(3)
Article 19(3)	Article 33(4) Article 33(5) to (8) Article 34 Article 35 Article 36
Article 9(1)(f)	Article 37(1)
Article 11(4)(c)	Article 37(2)
Article 11(2)(b)	Article 37(3) Article 37(4) Article 38 Article 39 Article 40(1)(a) to (c)
Article 11(4)(b)	Article 40(1)(d) Article 40(2) Article 41 Article 42
Article 11(5)	Article 43
Article 11(2)(a)	Article 44(a)
Article 11(3)	Article 44(b) Article 44(c) Article 45 Article 46 Article 47
Article 14(1)	Article 48(1)
Article 14(2) first subparagraph	Article 48(2) Article 48(3) to (5)
Article 14(2) second subparagraph	Article 48(6)
Article 14(3) to (5)	Article 48(7) to (9) Article 49
Article 13(1)	Article 50
Article 13(2)
	Article 51 Article 52 Article 53 Article 54 Article 55 Article 56 Article 57 Article 58
Article 20(11) first subparagraph	Article 59(1)
Article 20(11) second subparagraph	Article 59(2)
Article 20(11) third and fourth subparagraphs
Article 21	Article 60 Article 61 Article 62 Article 63
Article 22	Article 64 Article 65 Article 66 Article 67

[^E0001]: Regulation (EC) No 883/2004 of the European Parliament and of the Council of 29 April 2004 on the coordination of social security systems (OJ L 166, 30.4.2004, p. 1).

[^E0002]: Regulation (EC) No 987/2009 of the European Parliament and of the Council of 16 September 2009 laying down the procedure for implementing Regulation (EC) No 883/2004 on the coordination of social security systems (OJ L 284, 30.10.2009, p. 1).

[^E0003]: Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32).

[^E0004]: Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (OJ L 174, 1.7.2011, p. 1).

[^E0005]: Directive 2013/36/EU of European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

[^E0006]: Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).

[^E0007]: Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (OJ L 302, 17.11.2009, p. 1).

[^E0008]: Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014, and (EU) 2016/1011 (OJ L 333, 27.12.2022, p.1).

[^E0009]: Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).

[^E0010]: Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

[^E0011]: Directive (EU) 2016/2341 of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (OJ L 354, 23.12.2016, p. 37)’;

[^E0012]: Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability (OL L, 2023/2859, 20.12.2023, ELI: http://data.europa.eu/eli/reg/2023/2859/oj).