Regulatory Alerts2018-10-30
Ordinance No. 62 of 30.10.2018 on the Procedure for Storage, Use, and Destruction of Documents and Data by Pension Insurance Companies
The Commission for Financial Supervision issued Ordinance No. 62 to establish the mandatory procedures for pension insurance companies regarding the storage, use, and destruction of documents and data related to supplementary pension insurance. The regulation mandates specific minimum retention periods for various document types, strict physical and environmental standards for storage facilities, and controlled access protocols to ensure data integrity and confidentiality. It further regulates the destruction process through expert commission review and allows for the outsourcing of storage activities under strict liability and oversight requirements.
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