1. These funds and schemes are active on the internal market and should be subject to competition law and the four freedoms. Here, more harmonisation is needed to reach a level playing field between IORPs and other financial institutions. The 'hard law' approach could follow the Lamfalussy technique 25 and could arrange for the same level of detail as the Solvency II regime (Lechkar, Nijenhuis, van Meerten, 2009), be it for IORPs with their own specifics. The legislation could regulate matters such as a qualitative (governance, financial reporting) and disclosure and information requirements;with regard to funds and schemes that do qualify as economic, the 'whole nine yards' must apply,2011
2. Under the Dutch approach the difference between the location of establishment of the sponsoring undertaking and the location of the IORP is not decisive to determine the possible cross-border activity;It remains uncertain under the IORP Directive when a fund is cross borderly active,2009
3. the activities of the undertaking related to points (a) and (b), in relation to which the approach referred to in this paragraph is applied, are pursued only in the Member State where the undertaking has been authorized;OJ C138,2001