Regulatory Alerts2017-01-01
Regulation on the Procedure for Compensation of Damages to Members of the Mandatory Pension Fund and/or the Mandatory Pension Fund - Unofficial Consolidated Text (NN, No. 101/14 and 39/17)
The Croatian Agency for Financial Services Supervision issued this regulation to establish a comprehensive compensation procedure for pension management companies when material errors occur in calculating accounting unit values or when investment limits are breached. It mandates the preparation and timely submission of compensation plans, direct notification to affected members via websites, and full cost allocation to the management company rather than the fund or its members. The framework further introduces simplified procedures for claims under specific monetary thresholds and standardized electronic documentation submission to ensure efficient implementation and audit compliance.
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