Regulatory Alerts2018-11-29
Ordinance No. 64 of 29.11.2018 on Requirements for Persons under Art. 344(2)(2) of the Social Security Code and Appointment Procedures
The Commission for Financial Supervision issued Ordinance No. 64 to establish the professional qualifications, integrity standards, and appointment procedures for external auditors, independent experts, and actuaries overseeing supplementary pension funds. The regulation mandates that these appointed persons meet strict experience and clean-record criteria, and are selected through a competitive bidding process based on lowest price and professional experience. It further details the maintenance of official registers, grounds for exclusion from these lists, and the specific administrative measures for appointing personnel to enforce compliance with the Social Security Code.
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