Regulatory Alerts2017-06-08
Insurance Undertakings Deckungsstock List Regulation (VU-VerzV)
The Austrian Financial Market Authority (FMA) issued this regulation to standardize the reporting and maintenance of asset lists dedicated to the Deckungsstock (covering stock) by insurance undertakings. It mandates that all listed assets must be classified into specific Deckungsstock groups and tagged with Complementary Identification Codes (CICs), while requiring robust data backup systems to ensure full traceability and compliance with legal retention periods. The regulation specifies detailed minimum information requirements across multiple annexes for various asset categories, including bonds, equities, investment funds, and cash deposits, and took effect on January 1, 2016.
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