Regulatory Alerts2024-12-05
Order on the Registration of Assets in Life Insurance Companies, Cross-Border Pension Funds, and Company Pension Funds
The Danish Financial Supervisory Authority issues this order to mandate life insurance companies, cross-border pension funds, and company pension funds to register assets ensuring their value covers insurance or pension liabilities plus a margin of coverage. Entities must establish board-approved guidelines for asset registration, maintain individualized records, and submit quarterly reports of assets and liabilities electronically within five weeks of each quarter's end. The regulation enforces annual unannounced external audits of asset existence and valuation, with penalties for non-compliance, and enters into force on January 1, 2025.
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