News News Flash - Qualified holding in insurance or reinsurance companies and pension fund management companies 23/02/2021

On the 27th of January, the ASF put into public consultation a draft regulatory standard through which it establishes the elements and information that must accompany the prior communication of the projects for the acquisition, increase and decrease of qualified equity stake in an insurance company or of reinsurance and in a pension fund management company subject to ASF supervision and the notification of constitution or the possibility of future constitution of any burden or charges on voting or capital rights that constitute qualified participation in an insurance or reinsurance company and in a pension fund management company subject to ASF supervision - see Public Consultation no. 1/2021 - and which will revoke Regulatory Standard no. 3/2016-R, of 12 May.

This draft regulatory standard arises from the need to adjust the current regime to the entry into force of the Joint Guidelines of the European Supervisory Authorities on the prudential assessment of acquisitions and increases in qualified holdings in entities in the financial sector and the need to adapt the procedures of the ASF to the legal regime applicable to the processing of personal data.

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