Article 3
EIOPA shall apply the following criteria and factors in considering the degree of innovation of the PEPP or of an activity or of a practice:
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(a) |
the degree of innovation related to the structure and features of the PEPP, in particular the degree of innovation of the risk-mitigation techniques or of the forms of out-payments or of the design of other PEPP benefits; |
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(b) |
the extent of innovation diffusion, including whether the PEPP is innovative for particular categories of PEPP savers; |
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(c) |
innovation involving leverage; |
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(d) |
the past experience of the market with similar PEPPs or selling practices for PEPPs. |