Regulatory Alerts2022-01-01
Rulebook on the Procedure for Compensating Damages to Members of a Voluntary Pension Fund and/or the Voluntary Pension Fund – Unofficial Consolidated Text (NN 101/14, 41/17 and 146/22)
The Croatian Financial Services Supervisory Agency (HANFA) issued this Rulebook to establish a standardized compensation procedure for voluntary pension funds and their members when material errors in share price calculations or breaches of investment limits occur. It mandates that pension companies prepare and submit compensation plans within 60 days, inform affected members via their websites, and bear all associated costs while ensuring full alignment of investments or accurate share price corrections. The framework also introduces simplified procedures for claims under specific monetary thresholds and requires independent external audits to verify the accuracy of implemented compensation measures.
Share