EBA · 2020_5628 Rejected question

Is the activity of pension fund administrators included in the "Portfolio management and advice" and thus, pension fund administrators qualify as financial institutions?

Regulation
Directive 2013/36/EU (CRD)
Article
Annex I, para. 11
Topic
Other issues
Submitted by
Law firm
Submitted
2020-11-19

Question

Is the activity of pension fund administrators included in the "Portfolio management and advice" and thus, pension fund administrators qualify as financial institutions?

Background

The object of activity permitted by law to administrators of pension funds is exclusively the activity of management of pension funds and optionally the provision of private pensions. Against this background, should it be interpreted that administrators of pension funds also carry out the activity listed in Annex I of CCR5 "Portfolio management and advice" and thus can qualify as "financial institution" under CRR, Article 4 (1)(26)?
No answer published yet.

Original source: European Banking Authority, Q&A ID 2020_5628

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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