IVASS published National reservation. 144 of 4 June 2024, which introduces changes and additions to Law no. 44/19, which contains the implementing measures to prevent the use of insurance companies and brokers for the purpose of money laundering and terrorist financing.
The most significant change – it is necessary to be almost completely consistent with the national legislation and the 2022 EBA Guidelines – regarding the opening of the description of the body with supervisory responsibilities and the identification of the tasks assigned to it (of previously assigned to Top Management) and:
a) Anti-Money Laundering Advisor
b) The task of verifying compliance with the current regulations regarding the prevention of
money laundering and counter-terrorism financing (called
Anti-Money Laundering Service)
c) Exit
d) Group
The provision also explains the definition of “administrative authority” and “instruction”, as well as specifying the content of the contract / agreement with the insurer about the information to be exchanged in relation to the “group of work” and “group of people” market. “, whose opinion is already recognized by Article 18 of Law no. 44/2019 (as amended by Provision No. 111/2021).