Regulatory Alerts2017-06-06
Insurance Undertakings Reporting Regulation (VU-MV) Annex to § 1: Complementary Identification Codes (CIC)
The Austrian financial supervisory authority mandates a standardized four-character Complementary Identification Code (CIC) system for regulatory reporting by insurance undertakings. This coding framework classifies assets and liabilities by assigning country or listing status codes to the first two positions, broad asset categories to the third, and specific sub-categories or primary risk exposures to the fourth. Implementing this structured classification ensures consistent data aggregation and precise risk monitoring across government bonds, equities, derivatives, and other investment vehicles under the Austrian Insurance Undertakings Act.
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