PensionsEurope prepared a paper on FASTER level 3, as DG TAXUD is currently working on different guidelines, including due diligence guidelines related to FASTER procedures alongside several ITS/RTS.
The paper aims to broaden the scope of pension funds that are not facing the dividend payment threshold (Article 11(3)) through the due diligence guidelines, and also to ensure a fair treatment of foreign pension providers compared to domestic pension providers. Personal pension funds regulated and supervised at the national level present the same characteristics as the entities exempted from the dividend payment threshold.
To recall, the FASTER directive was published in the OJEU on 10 January 2025. Member States have until 31 December 2028 to transpose the directive, and the directive will apply from 1st January 2030.
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