Regulatory Alerts2017-01-01
Regulation on the Performance of Duties, Conditions and Procedures for the Selection and Revocation of Approved Depositories of Mandatory Pension Funds - Unofficial Consolidated Text (NN, Nos. 63/14, 72/14 and 39/17)
The Croatian Financial Services Supervisory Agency issued this Regulation to establish the conditions, procedures, and requirements for selecting and revoking approved depositories of mandatory pension funds. It mandates detailed organizational and technical standards, specifies mandatory contract elements regarding asset storage, information exchange, and anti-money laundering compliance, and outlines strict control duties including daily reconciliation of cash flows and financial instruments. Furthermore, it governs the delegation of custody functions to third parties, requiring continuous monitoring, due care in sub-depository selection, and clear risk assessment procedures to safeguard pension fund assets.
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