Regulatory Alerts2005-09-20
Added · Updated
Grand-ducal Regulation of 20 September 2005 on Competence and Financial Soundness Criteria for SEPCAV and ASSEP Liability Managers
The regulation establishes specific competence, good repute, and financial soundness criteria for authorizing liability managers of SEPCAVs and ASSEPs. It requires managers to hold a university degree in actuarial sciences or equivalent, possess at least three years of professional experience in applied actuarial fields, and substantiate professional integrity through police records and evidence of good repute. Authorization is conditional on maintaining a capital base of not less than EUR 125,000. The regulation repeals the Grand-ducal regulation of 4 February 2000 regarding these criteria.