S.L. 330.16 Art. 3Competent Authority.

(1) The Malta Financial Services Authority, established by the Act, shall be the designated competent authority in Malta for the purposes of implementing the relevant provisions of the PEPP Regulation, and any reference in these regulations to the competent authority shall be read and construed accordingly.

(2) The competent authority shall supervise the compliance of PEPP providers and PEPP distributors with the PEPP Regulation on an ongoing basis.

(3) The competent authority shall also be responsible to supervise compliance with the obligations set out in the rules or instruments of incorporation of the PEPP provider, and the adequacy of its arrangements and organization with regards to the tasks to be fulfilled when providing a PEPP.

(4) The competent authority shall monitor personal pension products provided in order to verify that such products are designated as PEPP or it is suggested that such products are PEPPs only when they are registered under the PEPP Regulation.