Regulatory Alerts2021-06-29
Ordinance No. 10 of 29.06.2021 on Requirements for Solvency Margin, Own Funds, Recovery Plan, and Minimum Liquid Assets of Pension Insurance Companies and Managed Funds
The Commission for Financial Supervision issued Ordinance No. 10 to establish detailed requirements for the solvency margin, own funds calculation, recovery plans, and minimum liquid assets of pension insurance companies and their managed funds. The regulation defines the composition of own funds, sets the solvency margin at 4% of capitalized liabilities (minimum 3.75 million euros), and mandates specific investment diversification limits for capital coverage. It further prescribes the structure of recovery programs for non-compliant entities and establishes strict liquidity ratios and reporting obligations for universal, professional, and payment funds.
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