Regulatory Alerts2023-03-31
Instruction for Submission of Pension Buyout Company Reports in Electronic Form
The Croatian Financial Services Supervisory Agency (Hanfa) issued this instruction on March 31, 2023, to standardize the electronic submission of monthly, quarterly, and annual reports by pension buyout companies. The document mandates that reports be filed in XLS format for standardized data and PDF format for explanations, additional data, or non-standardized information requested by Hanfa. It further specifies that electronic files must be digitally signed by at least two management board members and submitted via Hanfa's designated reporting system, replacing the previous 2014 technical instruction.
Based on Article 15, point 7 of the Act on the Croatian Financial Services Supervisory Agency ("Narodne novine" No. 140/05 and 12/12), the Croatian Financial Services Supervisory Agency, at the meeting of the Board of Directors held on March 31, 2023, adopts
INSTRUCTION FOR SUBMISSION OF REPORTS OF PENSION BUYOUT COMPANIES IN ELECTRONIC FORM
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Introduction Pension buyout companies are required to submit monthly, quarterly, and annual reports to the Croatian Financial Services Supervisory Agency (hereinafter: Hanfa) in both electronic and written form, in accordance with the Act on Life Pension and Pension Buyout ("Narodne novine" No. 153/13; hereinafter: the Act) and the Rulebook on Accounting for Pension Buyout Companies ("Narodne novine" No. 155/22; hereinafter: the Rulebook). This instruction for the submission of pension buyout company reports in electronic form determines the format and method of submission.
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Submission of Reports in Electronic Form Reports are submitted in electronic form in: • XLS format files and • PDF format files The submission deadlines are prescribed by the Act and the Rulebook.
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Description of XLS Format Report Files XLS format report files include reports in accordance with the Rulebook. XLS format report files are published on Hanfa's website.
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Description of PDF Format Report Files PDF format files are intended for the submission of reports not covered by XLS format files, relating to explanations and additional data accompanying the submitted reports, as well as other non-standardized data upon Hanfa's request.
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Signing of Files The signing of files that pension buyout companies are required to submit is carried out in accordance with the current Technical Instruction for the Application of Electronic Signature in the Reporting Procedure of the Croatian Financial Services Supervisory Agency, published on Hanfa's website. The signing rules are the same as those applicable to the handwritten signature used for the written form of reports. Reports of the buyout company are signed by at least two members of the buyout company's management board. Exceptionally, in case of impediment, the buyout company's management board may, in accordance with regulations on representation, authorize another person in writing to sign reports, with prior notice to Hanfa.
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Submission of Reports Reports from point 2 of this Instruction are submitted by the pension buyout company in accordance with the current Technical Instruction for the Use of the Data Submission System in Electronic Form of the Croatian Financial Services Supervisory Agency (reports.hanfa.hr), published on Hanfa's website.
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Final Provisions With the entry into force of this Instruction, the Technical Instruction for the Submission of Reports of Pension Buyout Companies of July 11, 2014, ceases to be valid. This Instruction enters into force on the day of its adoption.
CLASS: 011-01/23-11/02 FILE NUMBER: 326-01-50-53-531-23-1 Zagreb, March 31, 2023
CHAIRMAN OF THE BOARD OF DIRECTORS dr.sc. Ante Žigman