Insurance Law

The Insurance and Pension Funds Supervisory Authority (ASF) approved, on 3 October 2023, Regulatory Standards no. 9/2023-R, on prior registration for the exercise of regulated functions.

Regulatory Standard no. 9/2023-R aims to adapt the regulatory framework for registration for the exercise of regulated functions in entities supervised by the ASF to the Legal Framework for Insurance and Reinsurance Distribution (RJDS) and the Legal Framework for the Setting-up and Operation of Pension Funds and Pension Fund Management Entities (RJFP), to this end, among others:

- It has extended the range of functions subject to registration;

- It makes some adjustments to the elements that must accompany the different registration requests;

- It now stipulates the obligation to notify the ASF of the termination of previously registered functions, when this is not the result of expiry.

The Regulatory Standard repeals Regulatory Standard no. 3/2017-R, of May 18