Directive (EU) 2016/2341 of the European Parliament and of the CouncilShow full title

Article 50 U.K. 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.